Bankruptcy Trustees Mississauga Get a chance at a fresh start.
Bankruptcy may be best described as a "Debt Eraser". It erases all your unsecured debts and gives you a fresh start. If you are suffering from personal financial difficulties, such as overwhelming debt, you may consider bankruptcy as a solution …
Most of us are afraid of this word "Bankruptcy " and feel very humiliated to even talk about it - it is not as bad as you may think. It may be wise to know about it even before you take any action.
Bankruptcy eliminates your debts to give you a fresh start. Personal bankruptcy is a legal process, governed by federal law (the Bankruptcy & Insolvency Act). The law is designed to permit an honest but unfortunate debtor to obtain relief from his or her debts while treating creditors equally and fairly.
Stops all legal actions and protects your assets: The common misconception that you lose your assets like house and other assets is wrong- in fact, it protects them.
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We always believe that “When God closes a door, he opens a window” When debt is the problem, we are the solution.
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Personal bankruptcy is a legal process, there is a “stay of proceedings” that prevents any legal action from happening, and stops your creditors from calling.
Please call us for the right advice. This is a complicated process to understand as your assets like, home equity and salary have to be calculated before choosing this option.
We at Clear Debt Solutions will assess your situation and advise the right option to suit your needs.
1st time Bankrupts may be entitled to an automatic discharge from bankruptcy in 9 months( without surplus income). Bankruptcy only deals with unsecured debts - credit cards, personal loans, income taxes, overdrafts, etc.
Secured loans - car loan, House mortgage or any other loan with the asset given as collateral “remain outside this transaction”.FREE Consultation - Become Debt Free!