It’s a very popular myth that bankruptcy is a viable
debt control option for everyone.
There are circumstances in which
individuals are not eligible to use
bankruptcy to get out of debt.
If the value of your assets or
income is greater than your
debt, you will be ineligible for
If you attended post-
secondary education and
have been out of school for
less than seven years, you
are not able to eliminate
student loan debt by
THE ONLY WAY TO
GET OUT OF DEBT
Bankruptcy is not an ideal debt control
option for some people, and it’s also not
the only way to get out of debt.
Before deciding whether you should file for
bankruptcy, a Trustee will discuss other debt
relief possibilities, such as debt consolidation
loans, debt management plans and filing a
consumer proposal, to see what would be the
best solution for your financial situation.
Filing for bankruptcy on your own is just
one of the many myths that surround debt.
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