Is Bankruptcy in Toronto an Option?
Over the last few weeks I have received many calls from the media, probably due to the fact that the rate of personal bankruptcy filing in Toronto, and in Ontario, is on the rise.
On February 5 I participated in an on-line bankruptcy discussion with the Globe and Mail. There were many questions about how bankruptcy works, and whether or not it was the correct option when you have financial trouble.
Then, on February 9, I answered questions on the John Oakley Show on AM 640 in Toronto. You can listen to my appearance on this bankruptcy radio link.
The first question John Oakley asked me was “what do we do when we meet with someone?” I explained that we start by finding out what you owe, and who you owe it to, and then we start discussing solutions.
In most cases the solution is NOT to file bankruptcy. We explore all other options first, including consumer proposals, and only after all other bankruptcy alternatives are exhausted will we consider bankruptcy.
As I discussed in the newspaper and on the radio, bankruptcy may be an option, but it’s not the only option, so call our office today at 310-PLAN (that’s 310-7526, no area code required) or e-mail us your question, and one of our professionals will meet with you, review all your options, and help you decide which option is right for you.
