Take Advantage of Free Bankruptcy Counselling
Bankruptcy might be one of the possibilities that you are considering after researching how to deal with your debts.
It is usually a last resort, but it is often the best solution for those dealing with issues of debt and struggling to make payments.
If you are interested in what filing bankruptcy could do for you, credit counselling can help you to explore and understand this option.
It gives you the information and the tools that you need to understand not just bankruptcy but also the alternatives to bankruptcy that could help you to avoid it.
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Bankruptcy is a long and involved process, which isn’t to be taken lightly.
That’s why it’s important to get a good understanding of bankruptcy and how it works, as well as the alternatives that you can consider before filing bankruptcy.
Other debt management options are available, including debt management programs, debt consolidation, and filing a consumer proposal.
Free bankruptcy counselling can help you to explore all of the options available to you and get professional advice and support concerning your finances.
Here is how you can get free counselling to put you in a better financial position.
Speak to a Credit Counsellor
Credit Counsellors are certified professionals who provide advice about your financial situation.
They can help you to assess your finances by offering free and confidential sessions.
If you’re worried about your finances and debt, you’re not alone.
Many other Canadians also have the same money worries, but they can benefit from credit counselling services.
When you use a credit counsellor, they provide you with advice that is tailored to your finances and your situation.
They can help you to decide if bankruptcy is the best option for you, or if it’s better to consider other debt management options before you decide to file bankruptcy.
Your first meeting with a credit counsellor is usually free, and it gives you a chance to go over your finances.
The counsellor will look at all of the important details, including your income and spending, your assets and investments, and your debts and savings.
All of these details can give them a clear picture of how they might be able to help you.
A credit counsellor can come up with a plan to tackle your debts, as well as rethink your daily spending.
No one solution for managing debt is suitable for everyone.
That’s why it makes sense to get credit counselling before you decide what you want to do.
Credit counselling aims to give you the necessary understanding to manage your finances and debts in a healthy way.
It can help you to avoid bankruptcy and allow you to get back on your feet using solutions such as debt management and debt settlement.
Connect with a Licensed Insolvency Trustee
Another option if you need help with your debt is to speak to a Licensed Insolvency Trustee.
A LIT has the qualifications to speak to you about legal debt solutions, which include consumer proposals and bankruptcy.
They will ensure you understand these options and what they entail but also inform you about other debt solutions that you might want to consider before choosing either one of these options.
A trustee doesn’t just offer advice but also carries out the process of filing a consumer proposal or bankruptcy.
They offer two services in one, staying with you for the whole journey when you are ready to deal with your debts.
They file the necessary paperwork for you, and they also make sure that you carry out the duties that you must complete when you file for a consumer proposal or bankruptcy.
These include making the payments that you are required to pay and attending two credit counselling sessions to help you improve your money management skills.
You can also begin with a free consultation when you need to speak to a Licensed Insolvency Trustee.
They will go over your finances with you and discuss the options that you have to deal with your debts.
The session will give you the knowledge that you need to understand bankruptcy and consumer proposals, and whether either of them might be the right option for your financial needs.
When you are ready to take the next step in considering bankruptcy, we can help you to find a Licensed Insolvency Trustee.
Contact us or visit our Find a Trustee page to start the process to get a free consultation, and begin your journey.
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What is Bankruptcy?
Bankruptcy FAQs
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What is the Cost of Bankruptcy in Canada?
How to Rebuild Credit Following Bankruptcy
Personal Bankruptcy in Canada
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