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There is a lot of GOOD
information on the web
about debt options,
programs available and
actions to be taken.
What you do about
your debts is always
your decision. The
sooner you act the
more options are
available to you...
Before you select any
given option TALK face
to face with the party
assisting you.
Never send anyone
money until they have
defined exactely what
they will provide....
In a bankruptcy, Provincial Exemptions will protect your basis assets. Others debt solutions options don't protect your assets from creditor actions...
Secured Debts - You can keep them if you can make the payments. Depending on the security agreement, assets pledged to creditors allows them to act if payments stop...
Sale of Loan Collaterial - This will put you offside on your loan and can result in creditor actions...
Principle Residence - Equity in your principle residence can be protected..
Unsecure debts - The accumulation of these debts (LOC, credit cards, income tax, etc) has caused your current concerns...
Special debts - Some obligations to repay will extend ever beyond completion of a Bankruptcy...
Ongoing committments - Maintenance Enforcement and other obligations will continue ever beyond
completion of a Bankruptcy...
Future Credit - Any action or non-action in dealing with your debts will have an effect on your credit rating...
Student loans - When you left school will determine if these debts continue beyond the completion of a Bankruptcy...
Garnishees - Options offering a 'stay of proceedings' can stop most garnishees
Income limit - All options are available to low and high earners alike
Credit - Most debt solutions require, or its reasonable, to stop using credit to supplement income
Banking - Continued use of bank card to access your account is acceptable
Expenses - Its your money to spend as you wish however a review of spending habits is important...
Fixed incomes - money management is important so to not over extend yourself in the future...
Ongoing expenses - With past debts handled, new debts for Utilities, home services, etc. will have to be paid...
Special expenses - with some debt solution options non-discretionery expenses are taken into
considerations...
Options Costs - all debt solutions have a cost associated with them and you should know it up front as part of your review...
Bankruptcy Info Services
What about my Assets!!
What about my debts!!
What about my income!!
What about my expenses!!
Frequent Questions / Answers