A Fresh Start on Your Path to Financial Freedom
Bankruptcy Settlements for Toronto, ON Residents
Bankruptcy can be the most affordable option to eliminate your unsecured debt very quickly. If you are an individual or a family who can no longer afford to keep up with your debt payments you can choose to file bankruptcy.
In Canada, bankruptcy is the legal process of clearing debts that cannot be paid when owed by surrendering non-exempt assets to a Licensed Insolvency Trustee.Inquire Now
Car Loan Shortfall
Line of Credit
Pay Day Loan
Together, we negotiate your existing debt amount down to a more manageable amount. It will be important to know about …
There are a number of key advantages of filing bankruptcy in Canada:
When filing bankruptcy in Canada, there are a number of obligations you will need to stand by in order to be discharged and cleared of your debts. These duties include:
Another factor to consider is surplus income. If your income exceeds the government threshold, your monthly payments will subsequently need to increase. This is where a bankruptcy alternative like a consumer proposal may more beneficial. Learn more about filing bankruptcy, and the consequences of not meeting your obligations.
At this point, you are able to live your life debt free. This is a huge relief for most debtors. It means you are able to enjoy life again, without being contacted by creditors. You no longer need to manage large, high-interest monthly debt payments, and instead you can begin to save your money. From here, you can begin to take the steps of rebuilding your credit, without being weighed down by heavy debt. At Spergel, we can help advise you on the next steps to take.
Filing for bankruptcy doesn’t mean you lose everything. Most of your assets are exempt from bankruptcy, so you will get to keep them. Bankruptcy is supposed to provide you with a fresh financial start. That means you get to keep your assets that will help you begin rebuilding your finances.
It will immediately stop any legal actions and wage garnishments. It will also put an end to the collection efforts against you by your creditors or the third party agencies. You will start receiving your full pay and all the harassing calls and letter will go away.
Yes you will be able to obtain new Credit Cards after you have filed your Bankruptcy. We ensure that our clients are on the path to rebuild their credit history while they are in this process. Apart from credit cards you will also get our professional advice to obtain a vehicle loan or a mortgage loan, for a prosperous future. Our goal is not just limited to making you debt free but also to help you possess personal wealth and assets in the long term.
All your unsecured debts can be included. It consist of Credit Card, Store Card, Line Of Credit, Bank Loan, Payday Loan, Personal Loan, Short-term Loan, Income Tax, GST/HST Owing, Student Loan, Business Loan, Bank Account Overdraft, Shortfall Loan Owing and more.