What is Bankruptcy Protection ?

Personal bankruptcy protection, same as a Consumer Proposal, is a legal process to eliminate unsecured debt, which is filed with a Licensed Insolvency Trustee. 

This process provides immediate protection from creditors to the honest but unfortunate debtor who cannot afford to repay their debts.

We understand people usually try to avoid filing for a Bankruptcy Protection, but in most cases, this is the only option to become debt free from most unsecured debts. These debts include:

• Credit cards
• Lines of credit, bank overdraft
• Personal loans
• Payday loans
• Income tax, HST, payroll deduction
• Student loans (more than 7 years out of school)

This process eliminates most of your unsecured debts, provides immediate protection from creditors, collection calls, wages and bank account garnishments, lawsuits, etc.

We, as a Licensed Insolvency Trustee company, ensure that the bankruptcy process is applied fairly. We understand that everyone would like to avoid filing for bankruptcy, however, sometimes this is the best option for a person to become debt free.