When your financial situation becomes unbalanced the first thing that comes to mind is bankruptcy, and in some situations, bankruptcy is a good decision. Declaring personal bankruptcy is a difficult decision and affects your credit for many years, and you should learn more about declaring personal bankruptcy in Canada. The rules, laws, regulations, how to file, how bankruptcy affects credit, what happens to debts and more.
There are alternatives to bankruptcy that you might not know about, like a debt settlement, a consumer proposal, debt consolidation, and a debt management program to name a few.
Balance is here to help you decide what option is best for you.