Is bankruptcy the smart option for me?
August 19th, 2005 by Questions
all debts added up come to about $14000 – this is all unsecured and i have aquired no assets at this point in life. i make good money but it mostly all goes to bills. I pay the minimum due or slightly more each month and find i am spinning my wheels and getting no where. Is bankruptcy the smart option?
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August 21, 2005 at 9:18 am, A licensed trustee said:
Bankruptcy may be an option, but it’s not the only option. You may be able to try to service the debt yourself, or perhaps file a consumer proposal.
Filing for bankruptcy in Canada is an important decision that should not be taken likely. It will deal with your unsecured debts, but it also affects your credit in the future, so you should first contact a licensed trustee for a free initial consultation to fully explore your options.