Local- 416-204-0158
Toll free- 1-877-273-0784


Bankruptcy should not be your only option!



Are you feeling crushed by a debt load that you can no longer support?

Are you under siege by your creditors?

Has stress taken over your life and reached intolerable levels?

Maybe you are thinking about filing for bankruptcy – convinced that this is your best option. Bankruptcy is a life changing option and it should not be taken lightly. Unless your income went from really high to really low in the course of a few weeks and your employment opportunity is bleak – think again.

Bankruptcy should be considered the option of last resort. Bankruptcy is a legal proceeding that enables the insolvent person to deal with a financial crisis by relieving them of financial obligations. Specifically, bankruptcy relieves insolvent people from unsecured debt.

The insolvent person is required to pay the trustee fees for nine to twenty-one months. The trustee fees and length of payments are dependent on the debtor’s surplus income, family status, assets and the desire of the debtor to retain ownership of some of those assets. Once the last payment is made, the trustee will apply for the insolvents discharge.

Bankruptcy is a serious step and not one we recommend lightly. However, it can be a legitimate option for those who really need a fresh start.

Let’s explore the advantages and disadvantages of Bankruptcy.

What are the advantages of Bankruptcy?

Bankruptcy eliminates unsecured debts, stops harassment from collection agencies, lifts garnishment orders, and stops any legal action against you by your creditors.

The bankrupt person is required to attend two mandatory counseling sessions that teach money management skills such as budgeting, how credit card interest works, and how to avoid the pitfalls that forced that person into bankruptcy in the first place.

What are the disadvantages of Bankruptcy?

Bankruptcy will have a serious impact on your personal life and credit score for six years or longer depending on where you reside. Your credit score will suffer and once discharged, you can re-establish your credit.
Do not despair! If bankruptcy is not be the right option for you, there are more effective options that enable you get out of debt faster.

Click here now to fill out our no-obligation financial assessment. We will tell you if filing for bankruptcy is the only solution to your money problems. We will represent you with the trustee to get the best terms possible and comply with the bankruptcy terms and conditions.

Get a Free Financial Assessment

Please enter the code as shown below



August 25 2006 – George provided excellent service as our Mortgage Broker, he was friendly, flexible and able to handle what was potentially a problematic situation. He always offered sound advice and had our best interests in mind at all time. I would highly recommend him.
Grant Pennell - Inside Sales Manager
November 14 2007 I just wanted to say thank you for all the help that you provided my husband and I for our refinancing when we were having problems getting information from our bank for the same. Your knowledge and understanding of finances helped us to make the right decisions regarding our financial situation and living is now bearable and we can see light at the end of the tunnel after only a few short months, which is certainly not what the bank was helping us to do. We appreciate all th…
S. and J. McKenzie
December 22, 2005 – We would recommend George Kaadi and his firm of experts with extremely high regard and confidence to our closest friends and family members. We only wish we had been introduced sooner, as we know George would have helped us to make better decisions about our future financial plans.
Bruce and Joanne H.
September 19 2007 – Based on the information he provided we were able to choose a strategy that was best suited to our situation and constraints. As such, he showed us how to use discipline and pay off our debts to then build and emergency fund and to invest our savings in vehicles I would not have come across talking to my banker. He taught me about tax savings and leveraging existing rules to increase my retirement fund using money the government would have simply kept to himself!
Andras Kovats
September 26 2007 – We came to you as first time buyers with some consumer debts after our bank gave the running around, seeking mortgage, we got home with far beyond that. Not only had you secured us an approval within 24 hours, you gave us the best rate at the time, and long lasting debt management help that has saved us considerable money and widened our smile; you helped changing our lives to the better.
Walid Bechara & Farah Dbouk