There are a number of reasons why people may find themselves in debt and filing for personal Bankruptcy in Toronto, including an unexpected job loss, health problems resulting in medical bills or lost wages, marital breakdown and the cost of starting over, unpaid income tax, and financial mismanagement to name a few. In this blog
Personal Bankruptcy is typically a final course of action for an individual in great financial distress. Together with your Licensed Insolvency Trustee (LIT), you will review your unique personal situation. If your debt cannot be resolved through other options like credit counselling, debt consolidation, or a Consumer Proposal, your LIT may recommend Bankruptcy. It is
For most Canadian post-secondary students, borrowing money is unavoidable, in order to finance their education. The costs of tuition and textbooks – on top of living expenses like rent, groceries, and transportation – really add up. In fact, it is estimated that the average Canadian student graduates with almost $30,000 of debt. It’s a hard
When you fall on rough financial times, it’s hard to know what to do. With so many complicated terms and options ahead of you, things can get stressful. Many people assume that Bankruptcy is their only option because it’s the phrase most commonly thrown around in the news. However, did you know that more and
Struggling with overwhelming and unpayable debt can be a paralyzing experience. You know that you can’t pay your bills and still make your rent or mortgage payment. You have stopped opening the mail because you know the bad news that each envelope holds.
For many people dealing with debt stress in Toronto, it simply isn’t necessary to file for Bankruptcy or make a Consumer Proposal in order to resolve their debt issues. In such instances, Credit Counselling alone may be a better choice. Toronto Credit Counselling essentially involves learning how to manage your money more effectively so you can reach your financial