when to claim bankruptcy in Ontario?

Posted on Friday, October 20, 2006

Why do people claim bankruptcy, and how do they know when they should claim bankruptcy?

1 Comments:

At 11:59 AM, J. Douglas Hoyes, CA, Trustee said…

People claim bankruptcy because they have more debt than they can ever hope to repay, and because they do not want to be taken to court, sued, and have their wages garnisheed.

If your wages are being garnisheed, or if you get constant calls from collection agents, and if you have no way to ever repay your debts, bankruptcy may be an option. Other options to consider include a consumer proposal, so we suggest you contact a trustee for more information, and for a free initial consultation.