David Sklar & Associates Inc., 647-931-5373
550 St. Clair Ave. West (at Bathurst), Unit 2, Toronto, ON M6C 1A5
Bankruptcy is an effective debt management/ elimination strategy no doubt but not one that is easy for a lay person to understand thoroughly.
If you are dealing with insurmountable debts that are impossible for you to pay off, you may be contemplating declaring bankruptcy.
However, to ensure that this gives you the maximum relief from your debt situation, you must take time to get a complete grasp on what bankruptcy in Canada entails for you.
There may be implications that you are not aware of and that could be quite an unexpected shock.
David Sklar & Associates Toronto, ON Licensed Insolvency Trustee
Toronto Debt Relief Help
For instance, bankruptcy filing may not eliminate 100% of your debts. In Canada, the laws state that bankruptcy discharges your unsecured debts.
Your secured loans, such as a home loan or a car loan, may still remain on your account and you have to pay them off.
There is also a possibility that your home may be sold to get enough liquidity to pay off your creditors.
However, the positive here is that there may be a way to protect your home too, even if you have a lot of equity built up in the property to warrant a take-over by the trustee.
Having an expert at hand who can acquaint you with all the nuances of bankruptcy process and its legalities is a huge advantage in this stressful situation.
With this expert on call to address your queries, answer your doubts, you can get the most benefit from the bankruptcy proceedings, within the purview of law.
This becomes very important in situations where the law varies from state to state, in particular.
With respect to these legalities, your local Canadian bankruptcy professional has the right information to give to you about which laws apply on you given your location.
The expert also guides you every step of the way be it in helping you understand the filing process and the paperwork right until you have your discharge in hand.
As a resident of Sklar Toronto, ON you have a trustworthy, knowledgeable Licensed Insolvency Trustee in David Sklar & Associates whom you can rely upon during this difficult phase of your life.
David Sklar & Associates is committed to helping you get back on your feet post-bankruptcy with tips and guidance on correcting your spending habits so that you can avert excessive debt for life.
Call us today to book your appointment for a free consultation.
Take your first step towards a debt free life.