David Sklar & Associates Mississauga, ON Licensed Insolvency Trustee

David Sklar & Associates Inc., 647-931-5373
130 Dundas Street East, Ste 306, Mississauga ON L5A 1W7

 

Bankruptcy has been portrayed as a scary and negative word and many feel it is the last thing they want to experience in their lifetime.

However, worse than bankruptcy are the legal threats and harassment calls debtor receives from their creditors for overdue bills.

If you reside and work in Mississauga, Ontario, then you must know that bankruptcy is your consumer right and a completely legal process.

Bankruptcy is your ticket to end all the creditor’s threats, in turn, putting an end to your stress and starting a new debt-free life.

 

David Sklar & Associates Mississauga, ON Licensed Insolvency Trustee

130 Dundas Street East
Ste 306,
Mississauga, ON L5A 1W7
Canada
Phone: 647-931-5373

If you are weighed down by the enormous amount of debt on your name and have considered every possible way to pay off your creditors with no success whatsoever, you need to consider the option of filing for bankruptcy.

 

Signs that you are nearing a financial crisis:

 

·     Regularly falling behind or missing on payments.

·     The majority of your income is going towards making minimum payments such as the minimum monthly payment required for credit cards.

·     You don’t know how much debt are you under.

·     Not taking prompt action towards past-due notices.

 

Filing for bankruptcy in Mississauga:

 

Bankruptcy is the best debt relief option when the value of your debt exceeds the value of all your combined assets and you are struggling to maintain your monthly expenses.

In such a scenario, it is best to consult a professional, more appropriately a Mississauga, ON Licensed Insolvency Trustee (LIT), if you reside and work in Mississauga.

 

Benefits of filing for bankruptcy are:

 

·      The LIT handles everything and you do not need to communicate with any of your creditors directly.

·      There will be no more interest charges or harassing calls from creditors threatening to take legal action against you.

·      Your LIT will guide you through the whole bankruptcy process and will let you know which of the debts are not eliminated on filing for bankruptcy.

·      The length of time is based upon how many times you have been bankrupt in the past. For a person filing for bankruptcy for the first time and who has a low income, the bankruptcy period is 9 months post which you can rebuild your credit history and a new financial future.

 

Licensed Insolvency Trustee (LIT):

 

LITs are highly trained persons who are granted a trustee license by the Superintendent of Bankruptcy post a rigorous 3-year course in bankruptcy and law.

They are the only people legally authorized to manage assets held in trust and administer bankruptcies and consumer proposals.

By consulting a trustee, you are protected by law since it is the federal government that regulates trustees.

All trustees are bound by stringent ethical codes and have to work in a manner that will protect the rights of the debtor as well as the creditor.

Since the trustees are the ones who will take up guide you through your financial crisis, you can be stress-free and place your confidence in the hands of your trustee to do a fine job.