When might bankruptcy be necessary for
you?
As a resident of Thunder Bay Ontario,
Canada, if you are unable to pay your bills as they
come due and you are unable to file a proposal
to creditors, it may be necessary to file an assignment
in bankruptcy. Since you file bankruptcy in your province
of residence, if you are a resident of Thunder Bay Ontario,
you would file your assignment in bankruptcy in Ontario.
Information
on filing for bankruptcy outside of Ontario can
be found here.
The concept behind bankruptcy in
Ontario is this: you assign (surrender) everything
you own to a trustee in bankruptcy in exchange for
the elimination of your unsecured debts.
Note: There are a number of differences
between bankruptcy in Ontario and bankruptcy in
other parts of Canada, so you are required to deal
with a local bankruptcy trustee.
Should I file for bankruptcy?
Filing for bankruptcy is a difficult
decision.
Bankruptcy will eliminate most, if
not all, of your debts, but it also impacts your future
ability to obtain credit.
Before deciding to go bankrupt, you
must meet with a licensed trustee to review your options,
and then you, and only you, can make an informed decision.
Who files for bankruptcy in Thunder Bay?
Is bankruptcy necessary to help you
solve your debt problems? We present below some examples,
based on actual clients (their names have been changed),
to show you how a bankruptcy in Thunder Bay can be used
to deal with your debt problems.
Can I file for bankruptcy for free
in Thunder Bay?
Since the sponsor of this site, www.bankruptcy-thunderbay.com,
is licensed by the federal government of Canada, their
fees for administering your bankruptcy are set by
the government.
The actual cost of your bankruptcy
in Thunder Bay will depend on your monthly family income,
the size of your family, and your assets (such as
RRSPs). Please contact
us today to arrange for a free consultation; we
will review your specific situation and explain the
costs in detail BEFORE you decide whether bankruptcy
is the correct solution for you and your family.Low
cost bankruptcy filing is available.
For information regarding bankruptcy
for Ontario residents living outside of Thunder Bay
we recommend the following sites.
What is the next step in filing
for bankruptcy in Ontario?
If you are considering bankruptcy
in Thunder Bay Ontario, please contact
us today, to arrange for a free consultation.
We will review your debts and your monthly budget,
and help you determine which solution is right for
you and your family.
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