If you're having financial difficulties and live in the Mississauga area, call (905) 848-3649 today to meet with one of our experts, or complete the ask a question form to send us a message and we'll get in contact with you.
Your personal business failed and now you can’t get out of debt.
Does this sound like you?
Janet McDonald was self-employed but due to marriage difficulties, the business failed. Now, Janet is without employment and income and has accumulated a substantial amount of unsecured debt. Most of the debt is credit card debt, and she doesn’t know how she will manage to pay it off, even if she does manage to find a new job. What can she do?
What can you do?
If you have found yourself in a similar situation, there are several things you can try. First, you can look into a proposal of repayment to your creditors. In a proposal, you and your creditors will decide on a suitable amount of money you will pay back each month. However, saving up enough money while you do not have a stable income could be difficult. You may need to consider bankruptcy. In a bankruptcy, your property is liquidated in exchange for money, and that money is used to pay back your creditors. A bankruptcy trustee can help you determine the best course of action. For more information, click here.
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