DEBT RELIEF OPTIONS
Bankruptcy Guidance
In some situations, bankruptcy may be the most appropriate path to resolving overwhelming debt. If this option becomes necessary, we help you understand the process and connect you with a trusted Licensed Insolvency Trustee who can guide you through the next steps.
Start Your Free
Debt Assessment
Helping Canadians Become Debt Free Since 1991
UNDERSTANDING THE OPTION
When Bankruptcy May Be Considered
Bankruptcy is a legal process designed to help individuals who are unable to repay their debts obtain a fresh financial start.
While it is often considered a last resort, it may be the most appropriate option when debt levels have become unmanageable and other repayment solutions are no longer realistic.
A Licensed Insolvency Trustee administers the process and works with your creditors under federal insolvency legislation.
Start Your Free
Debt Assessment
THE PROCESS
The Steps Involved in a Bankruptcy Procedure
Financial Review
We begin by reviewing your financial situation to understand your income, expenses, assets, and debts.
Determine the Best Option
If repaying your debt through a Debt Management Plan is not affordable and a Consumer Proposal is not suitable, bankruptcy may be considered.
Referral to a Licensed Insolvency Trustee
If bankruptcy appears to be the right option, we connect you with a trusted Licensed Insolvency Trustee who administers the process.
Formal Filing
The trustee files the bankruptcy and manages the legal process with your creditors.
Path to a Fresh Start
Once the process is complete, you are discharged from most unsecured debts and can begin rebuilding your financial future.
NEXT STEPS
Understand Your Options
If you are struggling with overwhelming debt, the first step is understanding the options available to you. During your free assessment, we review your financial situation and determine whether a Debt Management Plan, Consumer Proposal, or another solution may be appropriate.
Start Your Free
Debt Assessment
GET IN TOUCH TODAY
Free consultation • No obligation • Completely confidential
Speak with a credit counsellor about your situation and learn what options may be available.