The Advantages of Bankruptcy

bankruptcySometimes, bankruptcy is the right solution for dealing with overwhelming debts. By discharging your debts, bankruptcy provides you with a fresh start. If you are considering bankruptcy as a final solution consider these advantages to filing bankruptcy in Canada:

  • Bankruptcy eliminates most, if not all, of your unsecured debts
  • Bankruptcy can stop a wage garnishment and prevents creditors from taking legal action against you.
  • It stops collection calls.
  • Bankruptcy is inexpensive in comparison to other options
  • The process is often quicker than other options to deal with debt

Bankruptcy is not the solution for everyone however. There are disadvantages to filing bankruptcy and debt relief options which may work better for you.

More information on filing bankruptcy in Canada is available at

If you would like to talk about the advantages and disadvantage of bankruptcy and are considering filing bankruptcy in Canada, contact a trustee today for a free debt evaluation.

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