Settle Debts with Bankruptcy or Debt Consolidation

Bankruptcy Canada has helped answer thousands of questions on bankruptcy since 2005. Founded in 2004 Bankruptcy Canada is an organization that provides you with the most reliable information on bankruptcy. Not only, that but we also help you with alternatives to personal bankruptcy.

Personal Bankruptcy law is designed to permit an unfortunate debtor relief from his or her debtors while treating creditors both equally and fairly. Bankruptcy in Canada refers to surrendering all of assets in exchange for elimination of all your debts. You might be debt free, but your personal credibility is affected. Retain a trustee. A trustee in bankruptcy is a person licensed to you by the Superintendent of bankruptcy. The trustee analyzes your financial situation and will advice you on the pros and cons of bankruptcy. During the bankruptcy process, trustees ensure that both the rights of debtors and creditors are respected. You have a responsibility of disclosing both income and expenses of your family, including your spouse. In case of any joint debt, you and your spouse are going to be held accountable for the debt. Debt consolidation is one such possible option to reduce your debts without resorting to going to court.

Debt consolidation in Canada refers to consolidating all your debts into a single payment. A debt consolidation loan may offer you an interest rate that is lower than that charged by your creditors. This enables savings as you get to save money on interest charges. Ask your financial institution for a loan equal to the amount of your total outstanding debts. Look into the interest rates offered by competing financial institutions, the one offering you a consolidation loan at a competitive interest rate choose them over the rest. You just have to make one monthly payment to the financial institution and the rest of your debts will be settled by them. Who qualifies for such a loan? A consumer should have sufficient income and an acceptable credit rating to demonstrate that they are in a position to manage the loan. The main advantage being if you follow the terms of your credit rating, you won't be negatively affected.

We know that each debt settlement is different. With the help of our professional and qualified trustees, who will help set realistic expectations and will negotiate with your creditors to get you out of your financial hardships. Once we gain access to your financial circumstances we will offer a negotiation program customized specially for you.

For more information, visit http://www.bankruptcy-canada.ca/

Bankruptcy Canada is the right place for any doubts you might have on personal bankruptcy. Trustees guide you on alternatives to bankruptcy depending on your financial status.

Contact us

Goth & Company Inc

Edmonton bankruptcy trustee office address:

815, 5241 Calgary Trail

Edmonton, AB, T6H 5G8 , Canada

Phone: 1-866-554-4166

Source: http://www.briefingwire.com/pr/settle-debts-with-bankruptcy-or-debt-consolidation

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