Should I file for Bankruptcy?

As a trustee in bankruptcy, I meet with many people who ask me the same question: should I file for bankruptcy? And the answer is always the same: tell me a little bit more about your situation. Are you single or married? How many dependants do you have? Are you working? How much money do you make? Are your wages being garnisheed? What assets do you own? House? Car? RRSP? Who are your creditors? Finance company? Student loan? What about your spouse?

Are you starting to see my point? Everyone’s situation is different. That is why I meet with each person personally, ask the right questions, and then develop a plan that’s suited to that person’s specific fact situation. What worked for your brother-in-law might not be right for you. The answer might be bankruptcy, or it might be a consumer proposal. The best thing you can do right now is contact one of our professionals at 310-PLAN to schedule a personal consultation; we can work out a plan that’s right for you and your family.

Posted by Benny Mendlowitz, CA CIRP, Trustee @ 8:58 PM

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