I have personally been helping debtors with unmanageable debt levels for over twenty years.  The decision to file an assignment in bankruptcy is very personal.  Many are very hesitant to file bankruptcy due to the perceived negative perception and others are quickly ready to take control of their lives and be free of harassing collection calls.  Technically, to file for bankruptcy, you must: Owe at [...]

Over time, you have accumulated a significant amount of debt that you are unable to budget to pay off in the foreseeable future.  There may not have been any significant purchases or over-spending – just higher costs of living or a decrease in income.  You need help exploring your options and to determine if a personal bankruptcy is the best solution for you. Contact Taylor [...]

Per the Bankruptcy and Insolvency Act, the minimum amount that you must owe to file an assignment in bankruptcy is $1,000.  This is a pretty low threshold that the majority of Canadians would exceed.  In over 20 years of practicing in insolvency, the lowest amount of debt that I have seen an individual file for personal bankruptcy for is around $5,000.00.  A bankruptcy may seem [...]

Most people are aware of the negative impacts of a bankruptcy filing and are thus hesitant to explore this solution to their debt issues. Fewer are aware of the advantages of filing an assignment in bankruptcy to help get back on track financially. The purpose of the Bankruptcy and Insolvency Act is to provide relief to an honest but unfortunate debtor. Whether debt struggles arose [...]

You know you are in over your head with the amount of debt you are carrying.  Each pay cheque you carefully try and juggle paying your rent, utilities, buying groceries and credit card payments.  Unfortunately, there is insufficient income to cover all your expenses for the month, so you end up using your credit cards or taking cash advances. You are too embarrassed to ask [...]

You make your minimum monthly payments on your credit cards, but the balance outstanding continues to increase.  With an annual interest rate of 24-29% on a credit card, interest on high balances accumulates quickly.  Your credit rating is good because you are making the required monthly payments, but it is easy to see you are not going to get ahead of your debt without seeking [...]