Are you struggling financially to keep afloat? More people go through debt trouble than you would think. Whether it is due to a sudden job loss, marital breakdown, CRA tax debts or just credit management, filing for bankruptcy or consumer proposal in Toronto could be the solution to eliminating your debt and getting the fresh financial start you need.
How it Works
If you choose to file for bankruptcy in Toronto, keep in mind that many personal belongings are protected from being seized. Filing for bankruptcy, with the help of a Licensed Insolvency Trustee such as Chande & Company, entails going through the legal process of clearing all your debts.
At Chande & Company, our bankruptcy approach includes getting to know your unique situation and the causes of your debt problems. From there, we cover all the options that you have available for dealing with your debts. We also discuss other items such as costs, length of a bankruptcy and what would be expected of you during the bankruptcy. We also offer credit counselling sessions to help rebuild solid credit and effectively manage finances.
Consumer Proposal Toronto Services
Another option that is available is a consumer proposal. This legally binding method allows you to pay back a fraction of your debt owed, extend your debt-paying timeline with your creditors or a combination of both. Although, filing for bankruptcy can clear all your debts – it should be used as a last option when you are unable to file a consumer proposal.
In a consumer proposals, you will make a single monthly payment for up to and not more than five years. The single payment covers everything: the amount paid to your creditors, the fees of the trustee and all costs of administration including all government fees. When you make the final payment, you’ll be debt free with a fresh financial start.
As a hands-on firm with a boutique approach, Chande & Company knows how personal each client’s financial situations are. That’s why we offer professional and unrushed consultations to better understand your financial needs. With six office locations across the Greater Toronto Area, contact us today to schedule your stress-free consultation.