111 Waterloo Street, Suite 310
London, ON N6B 2M4

Bankruptcy top ten

June 14, 2018

The bankruptcy top ten things you need to know:

1. Bankruptcy is available to all non-bankrupts over the age of eighteen and owing more than $1,000.00.
2. Bankruptcy is almost always cheaper than a proposal.
3. Bankruptcy is almost always faster than a proposal.
4. ONLY a Licensed Insolvency Trustee can help you file either a bankruptcy or a proposal.
5. You can go bankrupt on government debt such as taxes and student loans.
6. Your house will be valued two times during your bankruptcy, at the beginning and at the end.
7. The trustee does not work for you or your creditors, the trustee is neutral.
8. You cannot go bankrupt on a bankruptcy; each proceeding must be finished before another is commenced.
9. You may, however, have multiple bankruptcies or multiple proposals.
10. We always provide free initial consultations and provide you with good information.