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Thousands of people experience financial difficulty every year due to unemployment, medical issues, marital separation, and financial mismanagement, among many other reasons. Consulting a Licensed Insolvency Trustee may help you find solutions to your financial problems. In many cases, declaring bankruptcy for Sudbury and surrounding area clients of Beth Maynard & Associates has provided much need relief. In short, bankruptcy is a legal process which can provide you with relief from most or all of your debts. Filing a bankruptcy also stops creditors from taking legal action against you. However, bankruptcy does have a negative effect on your credit rating.
When considering filing for bankruptcy, many people wonder if they will lose all or some of their assets, for example, a car, house, or RRSPs. Some assets are exempt under provincial law, including a vehicle with a value of up to $6600, a portion of RRSP’s, RPP’s, personal effects, furniture, and tools of the trade. It also may be possible to make arrangements with the Licensed Insolvency Trustee to keep certain assets. As each person’s situation is different, we will discuss your options for dealing with your assets with you prior to filing a bankruptcy.
Free Consultations Available
Make an appointment for your free, confidential consultation with a member of our professional team. We will explain your options, answer any questions you may have, and give you all the information you need in order to help you decide how to proceed.
When you know that Sudbury financial services are the best way forward for you, your family or your business, it’s time to turn to Beth Maynard & Associates for practical advice. We have a proven track record of providing customized services to people from all walks of life. Contact our team to learn how we can help you find your footing
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