FILL OUT THE FORM BELOW AND RECEIVE A NO-OBLIGATION CONSULTATION

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If you have unsecured debt of under $10,000 and live in the Province of Ontario filing bankruptcy may not be the best option for you. We suggest you contact the Office of the Superintendent of Bankruptcy at 416-973-6441 to discuss your options, or you can visit their website here.

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Bankruptcy or not? That is the question.

I’m 24, recently the government has garnished my wages. I owe Taxes of 20,000 + and have other outstanding debts, combined equaling about 40,000.with the taxes owing.
I’m worried if I claim bankruptcy that I will risk losing my car and stereo equipment within.
I live in Ontario, the car is worth about 5,000. [financed through a Credit Union] and the equipment is worth about the same. [financed through City Financial & Fargo Wells]. I don’t have a house or anything else of any value except personally owed tools to do my job. Without a car my job is up for grabs.
What should I do?

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One Response to “Bankruptcy or not? That is the question.”

Anonymous said...

YOU SHOULD DECLARE BANKRUPCY YOU HAVE NOTHING TO LOOSE,

WITH THAT SAID IF YOU HAVE A RRSP YOU WILL LOOSE IT, LIFE INSURANCE MAKE SURE ITS LOCKED IN . YOU ARE ALLOWED TO KEEP A VEHICAL IF ITS WORTH LESS THEN $5000.00 IF ITS NOT THEN YOU PAY THE DIFFRENCE TO THE TRUSTEE TO KEEP IT, IF YOU WANT TO FORFIT IT , THEN YOU LOOK AT LEASEING A BEATER FOR UNDER 200 A MONTH .