Category Articles: Bankruptcy Alternatives

It is possible to avoid bankruptcy and still deal with your debt. What bankruptcy alternative makes sense for you will depend on your personal circumstances. How much debt do you have? How much can you afford to repay? Do you have assets you would like to keep such as a home, a car or investments? What will it cost to file for bankruptcy compared to your other options? These are some of the questions you need to talk to your trustee about when analyzing your alternatives to bankruptcy.

All bankruptcy trustees in Ontario (and across Canada for that matter) are obligated to discuss all your debt relief options. In fact, declaring bankruptcy should always be your last resort. Review our articles about your different solutions to debt relief, including debt consolidation, credit counselling or debt management plans, and debt settlement through a consumer proposal.