Personal bankruptcies were down 4% and consumer proposal filings were up 6.8% as compared to the 12-months ended June 30, 2013.
Category: Consumer Proposals
Financial Warning Signs
Most of us can sense impending financial trouble but we tend to shy away from seeking professional help out of embarrassment or fear of being judged. Licenced Insolvency Trustees and debt counsellors are there to help and should be able to provide you with financial counselling in a non-judgmental and professional manner. The information they provide should help you better understand your financial situation and the options and resources that are in place to assist you. This will allow you to make the best possible decision to resolve your financial concerns.
May 2014 Personal Bankruptcy & Consumer Proposal Statistics
Personal bankruptcies were down 4% and consumer proposal filings were up 6% as compared to the 12-months ended May 31, 2013.
What Happens to my Investments in Bankruptcy
Your RRSP is exempt from seizure except for your contributions in the 12 months before filing personal bankruptcy or a consumer proposal.
Which Debt Solutions, is Right for Me?
With consumer debt at an all-time high, the number of companies offering credit counselling or debt settlement services, are multiplying at an alarming rate. Many of these companies have large advertising budgets and slick websites designed to play on the fears of stressed out consumers who are in need of debt relief.
Why Choose a Licensed Insolvency Trustee For Advice?
A Licensed Insolvency Trustee will treat you in a dignified manner and review the facts of your situation and review the options to deal with your financial situation, including explaining how personal bankruptcy or a consumer proposal would work for you so that you can make an informed decision and choose the solution that is best for you.