Tax debt lawyer vs Licensed Insolvency Trustee – when do you need which?
Facing an overwhelming amount of tax debt? Is the Canada Revenue Agency (CRA) on your case? Not sure what to do next?
Facing an overwhelming amount of tax debt? Is the Canada Revenue Agency (CRA) on your case? Not sure what to do next?
Also known as bankruptcy trustees, Licensed Insolvency Trustees are qualified and experienced professionals that can advise on debt relief solutions in Canada. In fact, they are the only professionals in the country legally able to file all forms of debt relief.
With a rising cost of living across Canada and increasing interest rates, life is becoming more and more unaffordable for many Canadians.
So you are contemplating filing bankruptcy and understand that it is the process of filing any non-exempt assets over to your Licensed Insolvency Trustee in exchange for the clearance of your unsecured debts.
Although a last resort for most Canadians when it comes to filing debt relief, bankruptcy is essential for some in bringing about a fresh financial future.
For some Canadians, bankruptcy is an essential form of debt relief. It is the pathway to a fresh financial future, clearing all of your unsecured debts and offering protection from your creditors.
If you are wondering ‘should you file for bankruptcy?’, chances are you are struggling with unmanageable debt and looking for a fast solution.
If you are researching a bankruptcy versus debt management plan, it is likely that you are struggling with unmanageable debt and looking for a form of debt relief.
If you miss several payments on a debt that you owe, it is more than likely that the debt will land in collections.
Gaining debt relief is a big step for many Canadians, and essential for some.
For anyone who is not aware of what a secured credit card is, it is a great way to secure credit if you are struggling to get a regular credit card.
An Orderly Payment of Debts (OPD) is an arrangement for debt repayment available in some provinces of Canada. An OPD requires an application to the Court for an Order to consolidate unsecured debts into one straightforward monthly payment.