What happens after you file bankruptcy?
Bankruptcy is an important form of debt relief in Canada, and offers a fresh financial future for those who need it.
Bankruptcy is an important form of debt relief in Canada, and offers a fresh financial future for those who need it.
If you have landed on this page, you have likely come across the term ‘chapter 11 bankruptcy’ before. Chapter 11 refers to a chapter of the US Bankruptcy Code, which provides bankruptcy guidance for businesses, partnerships, and proprietorships.
If you have filed bankruptcy or are nearing discharge from bankruptcy, you may well be wondering about credit repair in Canada.
In order to file bankruptcy in Canada, you need the support of a Licensed Insolvency Trustee who will file for you.
You have probably landed on this page because you are considering filing bankruptcy in Ontario.
Filing bankruptcy is a necessary step for many Canadians each year in order to write off any unsecured debts and begin a fresh financial future.
Also known as bankruptcy trustees, Licensed Insolvency Trustees are qualified and experienced professionals that can advise on debt relief solutions in Canada. In fact, they are the only professionals in the country legally able to file all forms of debt relief.
So you are contemplating filing bankruptcy and understand that it is the process of filing any non-exempt assets over to your Licensed Insolvency Trustee in exchange for the clearance of your unsecured debts.
Although a last resort for most Canadians when it comes to filing debt relief, bankruptcy is essential for some in bringing about a fresh financial future.
For some Canadians, bankruptcy is an essential form of debt relief. It is the pathway to a fresh financial future, clearing all of your unsecured debts and offering protection from your creditors.
If you are wondering ‘should you file for bankruptcy?’, chances are you are struggling with unmanageable debt and looking for a fast solution.
If you are researching a bankruptcy versus debt management plan, it is likely that you are struggling with unmanageable debt and looking for a form of debt relief.