Personal bankruptcy in Laval is a definitive solution to your debt problems. Unfortunately, it's not the most practical solution because of the consequences it brings.
If your debts are piling up faster than you save, take the time to consider all your options. Even if the personal bankruptcy is an option, it's not the only one.
Before making such a definitive decision, it is strongly recommended that you consult an expert. licensed insolvency trustee. The trustee's advisors are in the best position to help you determine whether or not to file for personal bankruptcy in Laval. is your best option.
In most cases, you may be able to dispose of your debts in another way. Before declaring personal bankruptcy in Laval, consult a trustee to find out if it is possible for you to regain your financial stability without having to declare bankruptcy.
Discover all the consequences of personal bankruptcy in Laval, as well as other possible solutions to help you get out of it. Our financial advisors are delighted to offer you help and guidance in redresser votre financial health.
The consequences of personal bankruptcy in Laval
Bankruptcy is a quick and effective way to get out of debt. Unfortunately, bankruptcy is not without consequences.
The main consequence of declaring personal bankruptcy in Laval is that it will appear on your credit file. For a first bankruptcy, it will remain on your credit file. for at least 6 years. After a second bankruptcy, she is registered for 14 years. The problem with bankruptcy is that, afterwards, it will be very difficult to obtain credit. Whether it's with financial institutions or lenders, the impact of your bankruptcy will be obvious and will hinder your search for credit.
Should you be able to obtain one, we still recommend that you to remain cautious.
Qui plus est, la faillite personnelle à Laval ne règle pas tous les problèmes. Bien qu’elle efface vos dettes et vous permette de mettre un point final définitif au harcèlement de vos creditors, elle ne vous empêche pas de commettre les mêmes erreurs. C’est pourquoi il est important d’aller chercher de l’aide et de l’accompagnement auprès de conseillers financiers expérimentés.
Other solutions available to you
Before declaring personal bankruptcy in Laval, make sure it's your only option. Most of the time, a licensed trustee will be able to help you discover better alternatives.
Here are two options that may be available to you, depending on your level of debt and your ability to pay off your debts:
- Visit debt consolidation Debt consolidation is an excellent option if you want to avoid the consequences of bankruptcy. Depending on the amount of your debts, it may be possible to consolidate them into a single debt, with only one payment to be made each month. This avoids having to deal with several creditors and allows you to repay your debts in full, often with reduced interest rates. If you're in a position to pay off your debts, this solution is more practical and far less fraught with consequences than bankruptcy.
- Visit consumer proposalWhen you seek help from a licensed insolvency trustee, it's possible to negotiate with your creditors. They may even be able to reduce up to 80 % of your debts! Don't hesitate to seek help to turn your financial situation around. It's easy to see everything in black and white when your financial situation is precarious. But don't give up hope!
And even if these options are not feasible for your situation, you can always declare personal bankruptcy in Laval. Although bankruptcy has serious consequences, it still allows you to start from scratch.
If you have any questions about personal bankruptcy in Laval, contact us. One of our experienced advisors will be happy to take your call.
