Using Bankruptcy with the Help of Victoria Debt Consultants

Bankruptcy is perhaps more common than you think in Canada. Debt consultants in Victoria can help you navigate what can be confusing territory, and in the end, you can use bankruptcy to remove stress and change the direction of your financial profile. An understanding of what bankruptcy involves is imperative and also reviewing all your options outside of bankruptcy is credital.

No More Losing Your Wages to Creditors

If you’ve gotten to the point where your wages are being garnished by people to whom you owe money, this can be stopped. This is one of the most useful applications of bankruptcy protection. A debt consultant in Victoria can help you figure out if the benefits of bankruptcy out weigh the negatives.

Say Goodbye to Calls from Collection Agencies

There is nothing worse than getting one of those calls—right in the middle of dinner—where they are asking you for money, and usually not in the nicest way. When you file for bankruptcy, the calls will stop. Because you are going through the bankruptcy process, you are taking control of your financial situation and finding a resolution to your debt. The law therefore protects you from being bothered by them.

Your Ability to Borrow Will Be Affected for a Time

For the next seven years after filing for bankruptcy, you will have the fact that you used the R9 provisions on your credit report. This will make it difficult to get lines of credit and certain kinds of loans. If you feel you are still going to need to get a loan or line of credit in the years immediately following your bankruptcy, you can reach out to a Victoria debt consultant for help and a review of all other options. They can tell you which types of loans and lines of credit you are going to have a hard time with.

Going through bankruptcy, can be the start of a positive new chapter in your financial life but all options must be reviewed first and fully understood. The laws are set up to help you get out of a difficult situation and give you true hope. In Victoria, you can seek the help of 4 Pillars, a company that has helped many people emerge victorious from debt issues. Reach out to them on their website at 4Pillars.ca. You can also call them at (866) 690-DEBT (3328).