Making the decision to declare bankruptcy can be a difficult decision in spite of the circumstances surrounding your financial struggles.
Before you make the decision to go bankrupt or make a proposal to the people you owe money to you need to have a full understanding of the debt relief options that are available to you.
That is why it is paramount that you speak with one of the local Prince George bankruptcy trustees that are partnered with Bankruptcy Canada to learn the debt relief options that are available to you, based on your personalized financial struggles.
If you are considering bankruptcy you have questions and concerns that need to be addressed so you can make an informed decision about how to handle your debt.
Please call our team at 855-200-3006 today.
The purpose of the Prince George bankruptcy laws were written to allow you to have a chance for a fresh start, by erasing your unsecured debts.
Schedule a free evaluation meeting with one of our local bankruptcy experts to find out your debt relief options.
Bankruptcy Prince George – Your protection when dealing with a Licensed Insolvency Trustee:
Our partner in Prince George has the experience and skills to guide you through the debt relief process. To overcome your debt you can make a consumer proposal or go bankrupt.
In certain cases the insolvency trustee can help you formulate a plan for dealing with your debt that does not involve bankruptcy or having to make a proposal to your creditors.
Our ethical trustees are members of the Canadian Association of Insolvency and Restructuring Professionals (CAIRP).
Our partner trustees in Prince George will work with you directly to help you organize your financial position and develop a plan that will allow you to overcome your debt.
With the knowledge you receive from speaking with the trustee during your initial consultation you can make the correct decision on how to deal with the debt that you have.
Bankruptcy Prince George – How bankruptcy and consumer proposals work:
When you go bankrupt you can have your eligible debts wiped out within 9 months.
The bankruptcy law allows you to have a fresh start and also allows for a protection of the assets you own under the BC Bankruptcy Exemptions.
Most individuals who go bankrupt have little or no assets not listed under the exemptions, and thus bankruptcy gives you a fresh start while maintaining your dignity.
A trustee can also assist you with making a proposal to the creditors to whom you owe your debts.
By making a consumer proposal with your creditors you can pay off about 30 percent of your debts over a period of 3 to five years.