A. Farber & Partners Alliston Bankruptcy is a Canadian bankruptcy firm conveniently located for those looking for bankruptcy help in the Alliston, Ontario area.
Filing for bankruptcy may be a good idea but no one feels good about it.
Unfortunately, there are many people who do not know there are other options than filing for bankruptcy.
We offer our clients more information on it so that they can come to the right decision when they discover other solutions and options.
When you fail to keep up with your debts and bills, the first thing you and most other people in your situation think of bankruptcy as the ultimate solution.
We don’t deny, it could be the right solution for many people but most likely this decision taken in haste could be a huge mistake when there are other better alternatives.
This is where we caution our clients.
They need to know their options before they move headlong with the decision to file bankruptcy.
We would want our clients to weigh the various options their impacts including a cost-benefit analysis before taking any decision that may prove costly in the long run.
While bankruptcy can be filed in most of the debt-related cases, there are at least three exceptions. In other words, you need to repay these three exceptional debts.
These include (i) secured debts such as mortgages or car loans (ii) student loans of 7 years or less and (iii) arrears relating to child and alimony support.
While bankruptcy eliminates your debts legally, it also entails consequences for the future.
Creditors blacklist you and your credit rating dips miserably low.
Obtaining loans, thereafter get increasingly challenging.
However, there are solutions to each of these problems which we can discuss one on one with you whenever you decide to visit us.
Alliston ON L9R 1T3