Personal Bankruptcy Services

 

Let's Wipe Out Your Debts Today

If the value of your debts exceeds the value of your assets, then Bankruptcy could be the best way to get a you Fresh Start. It is the most effective way to wipe out debts. Wive us 30 minutes of you time and we will give you a suitable plan to get you out of debt. We have convenient locations in Midtown (Yonge and Eglinton), Brampton, Markham, North York and Mississauga.

Will I lose my house and my car? Can I keep my business?

When claiming for bankruptcy, to lose secured assets like your home or car it's very unusual and our Trustee will always fight to make sure you get to keep your house, your condo and your car.

How does a bankruptcy affect my credit? Is it worse than some of the other options?
A bankruptcy stays on your credit file for 7 years from the date of discharge. This is about the same length of time other solutions will stay on a person’s credit file. Bankruptcy is generally a last resort, but it’s not significantly worse than any other debt solution. It may be a better solution than some options that can leave people in a worse financial situation.

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Can I file a consumer proposal or bankruptcy if I have filed before?
Yes, in most cases you would be eligible to file a fresh proposal or bankruptcy.

How much will my payments be in bankruptcy, and how long will I need to pay?
For a first time bankruptcy you may be required to pay the trustee for 9 to 21 months. Usually, after that time period there are no additional fees. The specific payments vary based on your income and assets.

I owe a lot of money in back income taxes; can a bankruptcy deal with those debts?
Yes, bankruptcy does deal with back income taxes. Contact us and book an appointment to review your situation.

Does bankruptcy stay on my permanent credit file?
In Canada there is no such thing as a “permanent” credit file. A bankruptcy will show on your credit file for 7 years from the date of discharge, then it will be removed.

Can I include my student loans in bankruptcy?
Student loans can be included in a bankruptcy filing as long as more than 7 years have passed after the last day of study. Debts that are not eligible for a bankruptcy include alimony, child support, debts deemed to be fraudulently incurred and court imposed fines.