Posts Tagged ‘pay down debt’

How to Avoid Bankruptcy

You can’t go bankrupt if you have no debt! Bankruptcy is a relief valve for people and companies who find themselves unable to cope with overwhelming debts. Bankruptcy is not necessarily the only option for resolving debts, but the availability of other options depends on individual circumstances. The sooner you identify and get assistance with your debts, the more options you have.

Read More

Using RRSPs to Pay Down Debt

If you are unable to keep up with your debt payments you should consult a Licensed Insolvency Trustee to discuss your options before cashing-in any of your investments.   Your investment savings may be exempt from seizure so you may be able to keep them if you file for personal bankruptcy or settle your debts through a consumer proposal.

Read More