Our Markham bankruptcy page was written by our professional and Licensed Markham Licensed Insolvency Trustee, to provide information on debt relief options.
If you are considering bankruptcy in Markham or making a proposal we would be pleased to work with you to guide you through the insolvency process.
You must use the service of a bankruptcy trustee to go bankrupt, and to make a consumer proposal .
The team of debt relief professionals that have paired with Bankruptcy Canada are all friendly, ethical and well-trained experts of the Canadian Association of Insolvency and Restructuring Professionals.
All members of the CAIRP are required to follow a code of ethics and professional standards.
Markham Bankruptcy – Bankruptcy and Consumer Proposals:
Under the bankruptcy laws of Markham it is possible to stop harassing collection attempts by the creditors to who you owe money and you can also have your debts eliminated to give you a chance for a fresh start.
A consumer proposal allows a person to pay off some percentage (usually about 30%) of the debt that they owe over a payment plan that will last for up to 5 years.
The trustee can help you decide if a proposal is right for you based on your debt, assets and income situation.
Going bankrupt is intended to give a person a chance for a fresh start by eliminating the debts that they owe within 9 months in most cases.
You can protect your assets from seizure under the Ontario bankruptcy exemptions.