The main goal of this blog is to help our website visitors better understand Bankruptcy. Through example and explanation we will try to take the mystery out of one of life’s most challenging lessons.
Since 1997 David Sklar & Associates has been successfully helping people in the Greater Toronto Area deal with Bankruptcy. Our extensive experience has given us a unique perspective and understanding – which we will be sharing with our readers in this blog.
Bankruptcy in Toronto is governed by two main pieces of legislation; the Bankruptcy and Insolvency Act (governs Bankruptcy and insolvency in all of Canada) and the Ontario Execution Act. (sets out which assets are exempt from a Bankruptcy settlement in Ontario). By law, Bankruptcies can only be filed in Canada by a Licensed Bankruptcy Trustee.
Important Note: Bankruptcy is the very last resort of debt removal – it is only to be taken when all other options have been explored with a Licensed Bankruptcy Trustee. At David Sklar & Associates, this initial consultation is free.
Bankruptcy is not an easy out, but as with most of life’s difficult challenges – it can be a process of learning, growth and positive renewal.
Did you know that when you file for a bankruptcy, it’s not just your assets that you may have to sell? In addition to having to sell assets like second .
Negative information on your credit report can feel crippling. After you declare bankruptcy, that information stays on your credit report for six years from the date of your discharge. That .
Bankruptcy certainly sounds like a scary word. When you watch movies about financial tycoons and Wall Street traders, “bankruptcy” sounds like the end of the line. But the truth is, .
In the last decade, over one million Canadians have declared insolvency. Canadian households are facing ever-higher debt loads and not just because housing prices have been pushing mortgages ever higher. .
Credit has been around for an estimated 5,000 years and it lies at the heart of human activity. Debt is one of the oldest means of trade, maybe even older .
The holidays come with big expectations and even bigger credit card bills. There’s a lot of pressure to spend money over the holidays, to buy your kids the newest gadgets .
Going through bankruptcy isn’t easy for anyone, but misinformation can make it even more challenging. Before you start the bankruptcy process, you need to know the facts about what can .
Bankruptcy can at first seem like a devastating time in your life, full of uncertainty and embarrassment. As you proceed, keep in mind that bankruptcy and Consumer Proposals are steps .
When you’re facing financial insolvency, you generally have two options: Bankruptcy and a Consumer Proposal. Both debt removal processes involve the debtor (you), your creditors (the parties you owe money .
Going through bankruptcy is a difficult time in anyone’s life, but you’re not the first person to declare bankruptcy and you won’t be the last. According to Bankruptcy Canada, one .
If your debt problems seem insurmountable – we can help. At David Sklar & Associates, our Licensed Debt ProfessionalsTM have the experience and knowledge to help you get out of debt. During your consultation, we will help you understand what your current financial situation is, how best to fix it, and how to move on to a better life. With six offices in the Greater Toronto Area – we are here to help.
Call Us Today For a Confidential & Free Initial Consultation Call 416-498-9200