J. Bottom & Associates Coquitlam Bankruptcy
Are you troubled by mounting debt?
Is your phone constantly bombarded by calls from creditors who threaten to pursue legal action?
Filing for bankruptcy through J. Bottom & Associates Coquitlam Bankruptcy may be the best solution for you if you’re unable to repay your debt.
What is personal bankruptcy?
This is a legal process where you allocate your personal assets to a Licensed Insolvency Trustee. This enables them to remove your debt. Filing for bankruptcy is more common than you think. According to 2017 statistics from the Office of the Superintendent of Bankruptcy showed that 60,669 individuals filed for bankruptcy in the country.
When should you consider personal bankruptcy?
Bankruptcy is a suitable debt relief option for you if:
– your income is insufficient to make minimum monthly payments
– you’re unable to consolidate your debts with the bank
– your assets are under seizure
– you’re unable to pay off your debts within five years
– you’ve received a foreclosure notice on your home or you’re unable to pay the mortgage
How do you file for bankruptcy with J. Bottom & Associates Coquitlam Bankruptcy?
You will meet with our Licensed Insolvency Trustee (LIT) who will conduct a financial assessment of your situation to determine if bankruptcy is the right debt relief solution for you. If this is the best step moving forward, then you’ll be required to complete an application form and submit supporting documents about your financial matters to your LIT. He or she will then prepare the legal documentation necessary to file for bankruptcy with the courts.
Once these documents are filed, actions such as wage garnishing and harassing phone calls with stop. You will also be required to meet with your trustee to review your obligations as a bankrupt individual, sign legal documents, etc. It is your LIT’s duty to notify your creditors.
Where can I get more information?
To learn more about bankruptcy, or to obtain a free, no-obligation quote, get in touch with us at J. Bottom & Associates Coquitlam Bankruptcy.
New Westminster BC V3M 1A5