What is bankruptcy?
Did you know that over 16,000 Quebecers have gone bankrupt in 2020? This is not surprising when you consider the Quebecers' level of indebtedness which is considerably high.
Many Quebecers are submerged in debt who are in theunable to pay their bills at the end of the month. Visit personal bankruptcy is the solution to your creditors who ask you for money. This device allows you towipe out all your debts when you are over-indebted.
Using personal bankruptcy offers you the possibility of :
- Stopping the worsening of your financial health
- A fresh start new bases by eliminating many of your debts
- Protect your assets by negotiating an agreement
- Regaining control of your life
After a bankruptcy, your liberal debts are erased such as :
- Your credit cards
- Your mortgages
- Your car loans
- Your tax debts
Visit personal bankruptcy is a solution for you avoid losing all your belongings such as your home or car. It's important to consider this option when your over-indebtedness becomes complicated.
Are you close to bankruptcy?
You're probably wondering: is my situation serious enough to file for bankruptcy? Here are some of the elements that characterize a over-indebtedness that can be resolved with bankruptcy :
- You have a large number of debts
- You are in theinability to manage your debts
- You must repay a higher amount to your bank account
- You cannot plus pay your bills monthly
- You use the credit card limit and you are no longer able to repay the minimum monthly amount
- Your late payments
- Your creditors contact you to receive what you owe them
Your situation certainly calls for bankruptcy. In addition, there are two mandatory conditions for declaring bankruptcy:
- Your debts are amount greater than or equal to 1000$
- You cannot not settle your payments and your debts exceed your assets
To avoid stress and aggravation, opt for this option. N. Séguin's advisors in financial turnaround will support you through this ordeal and guide you to the best solutions for your specific personal situation.
If I don't want to go bankrupt, what can I do?
You may be reluctant to declare bankruptcy, but we can help.other options available to you. All options differ according to your financial situation Some will be more suitable than others. That's why we recommend that you discuss your situation with our advisors before making a decision.
N. Séguin's advisors propose two other options :
- Debt consolidationYour debts can be reduced by up to 80%, and you can make a single payment per month at a reduced interest rate.
- The consumer's proposalAll your debts can be reduced to a single monthly payment
Depending on the severity of your situation, you may be able to avoid personal bankruptcy and use it as a last resort. Talk to our advisors about your situation, and we'll guide you towards the best options for you. Act now, don't let your debts get the better of you.
