Kevin Thatcher & Associates Ltd. your trustee in bankruptcy. Visit us today at http://billfixer.com/ to learn more, and let us help you get your financial life back on track.

1. Filing For Bankruptcy in
Canada

2. How to File for Bankruptcy in Canada
• Having a tremendous amount of debt can cause stress
and anxiety. You have mountains of credit card debt, a
mortgage, car loans and personal loans, and no end in
sight. You keep getting further behind on your bills, and
your credit score continues to drop. As a last resort, you
might be forced to file for bankruptcy. The proceeding
can help you start over financially.

3. How to Qualify
• In order to file, you
must live or work in
Canada, and you must
have at least $1,000 in
debt. You also must
not be able to meet
your financial
obligations.

4. How to Qualify
• The debts that can be
discharged in the
proceedings include
student loans, credit card
bills and any unsecured
loans. You can not
eliminate your child
support payments,
alimony or court fines.

5. How to File
• If you wish to file, you must
contact a trustee approved
by the government and
arrange a meeting. When
attending the meeting, you
need to bring bank
statements, information
about your assets and
information about any debts
you owe.

6. How to File
• The trustee will have
you complete the
necessary paperwork,
and he will file the
package. You will
need to list the names
and addresses of all
your creditors.

7. Title
• You will also be required to attend and finish two credit
counseling sessions. Your creditors might want to
schedule a meeting with you, and you will be required to
attend those. Your creditors will ask you numerous
questions, and you need to answer them honestly. In
addition, you are required to attend a discharge hearing.
After your information is reviews, you will be approved
for the proceedings. The process can take up to a year
to complete. Once you are approved, your debts will be
eliminated.

8. Advantages of Filing
• Filing for the elimination of your
debts can eliminate harassing
calls from you creditors. Once
you are in proceedings, your
creditors are forbidden to make
harassing or threatening phone
calls. If you have uncontrollable
debt, this allows you to start
fresh.

9. Advantages of Filing
• In addition, if you are having your
wages garnished, filing can put a
stop to that. If you need more
information about how the
process works, you can find
numerous social media sites that
address the issue.

10. Disadvantages of Filing
• The biggest disadvantage of filing is that it will appear on
your credit report for six years. This could prevent you
from getting new loans or new credit. If you are able to
obtain a new loan, the interest rate will be much higher
because you have a history of bankruptcy. In addition,
you might be required to give up some of your assets to
pay your creditors.

11. How Much Does it Cost?
• You will probably be required to pay trustee fees, filing
fees and counseling fees. The trustee will usually be
paid from the liquidation of your assets. If you hire an
attorney, you will be required to pay him a fee.

12. • If you cannot manage your debt,
bankruptcy might be the only solution to
your problem. It can help get you back on
your feet again, so you can start over.
Hopefully, you will learn from your
mistakes, and you will make better
financial decisions in the future.

13. Further Reading…
• Kevin Thatcher & Associates Ltd. your
trustee in bankruptcy. Visit us today at
http://billfixer.com/ to learn more, and let
us help you get your financial life back on
track.