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Forum - Gurus Answer Questions    Gurus answer your questions about the art of trading.

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From: Herbert01 (Rep: 0)Date: 12/21/2017 05:39
Forum: Gurus Answer Questions - Msg #609Thread #673975547 (Rec: 0)
Advice on Bankruptcy!



Hi
I need some information on bankruptcy. I have no other way to meet my debts and I heard, the following points are the criteria to apply for bankruptcy.

1) You must be a resident of Canada.
2) You are unable to pay your bills when they are due and
3) You owe more than $1000.00

Are there any more conditions to qualify for bankruptcy? What are the merits and demerits of the process? Is bankruptcy a good option?

Should we meet some Licensed Insolvency trustee to declare bankruptcy? Can anyone explain me the procedures? If so, suggest some bankruptcy trustees in Brampton. I came across many, but need to know your previous experience. Thank you.

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