Should I file for bankruptcy?

One of the most common questions Rhonda Fox-Miles is asked is should I file for bankruptcy? You aren’t alone.

Are you having trouble making payments?

Credit cards, car loans, mortgage payments, CRA tax debt, business debt are just some of the types of debt bankruptcy we can help you navigate.

Creditors harassing you?

Bankruptcy helps to deal with creditors by placing a stay of proceedings on collections, which stops collections and provides immediate relief to your monthly debt obligations.

Feeling stressed?

When in financial difficulty, the amount of stress that builds up over time can seem inescapable and tends to affect all aspects of life, from business to personal relationships. Because bankruptcy helps alleviate the burden of debt while providing a structured financial solution that is possible for your fresh start.

Many people find their stress levels decrease significantly when they decide to go bankrupt. Because of bankruptcy they no longer have the burden of dealing with the daily stress of their debts. The licenced insolvency trustee under the authority of the Bankruptcy and Insolvency Act of Canada takes charge.

With the economic uncertainty people are experiencing due to COVID-19, there will be many people who go bankrupt. As a result many people will turn to a trusted a professional to help get them get back on their feet.

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    What is bankruptcy?

    Bankruptcy is an insolvency process under federal legislation with contributing provincial laws administered by the court of queens to get you a fresh start with your finances with help learning to identify the risk factors that lead to bankruptcy and how to prevent a future bankruptcy.

    What do you need to qualify for a bankruptcy declaration?

    Benefits of bankruptcy

    Negatives of Bankruptcy

    Other options instead of going bankrupt

    Bankruptcy is available to anyone in distress; however, individuals may be seeking a reasonable alternative to bankruptcy, and a proposal is an option provided within the law. A proposal process offers a solution to debts without the requirements expected of you in a bankruptcy proceeding. Still, it arrives at the same goal of you being relieved of your debts and moving forward with your life and leaving the crushing debt you were carrying behind you.

    Why Choose Fox-Miles

    Rhonda Fox-Miles comes from a social work background, which helps her understand what you are going through. Because of our philosophy, Fox-miles will always treat you with dignity, respect and kindness.  It can be a stressful time; chose a trustee that treats you like a person, not a number.

    We always focus on you.  Not just the numbers.  We try to make this process as pain-free as possible. And we address the root of the problem, not just the symptoms. We want you to succeed.

    Call Fox-Miles and associates for your free non-judgemental consultation today. We help you wipe your slate clean.

    Contact Us via our website or Call Us at 780-444-3939

    Title
    Should I file for Bankruptcy?
    Article
    Should I file for Bankruptcy?
    Description
    A detailed guide on the pros and cons of filing for bankruptcy. Should you consider a consumer proposal? A video guide breaks it down.
    Author
    Publisher Name
    Fox-Miles & Associates Licensed Insolvency Trustee
    Publisher Logo