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

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*Unsecured debt includes credit cards, lines of credit, bank overdrafts, payday loans, and unsecured personal loans (excluding student loans). It does not include mortgages and car loans.

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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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First time

I have tried to start a small business and in the process have gotten myself in debt (credit cards+line of credit+overdraft on bank accounts). I cannot make ends meet and barely able to sustain my family. I have some tools that I need for the business which continues to generate some revenues, but not enough to pay back the debt. Is bankruptcy an option? can I keep the tools to continue building the business?
thank you

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One Response to “First time”

Barton Goth, GCO Inc. Bankruptcy Trustees said...

Bankruptcy sounds like one potential option, but you haven’t provided sufficient details for me to give you a concrete opinion. To do so it would probably be necessary to contact a licensed trustee and he would be able to advise you of the local rules and regulations you will have to be concerned with.