Where Can I Get Free Bankruptcy Counselling, Including Alternatives?

If you’re curious about declaring bankruptcy and want to look into free bankruptcy counselling, there are many ways to fix your financial problems. A certified Credit Counsellor is a great way to get more information and consider alternatives to bankruptcy you might not know about.

As a rule of thumb, bankruptcy is a last resort option for dealing with debt because the process, fees, and long-term repercussions affect your financial and personal life in subsequent years. There are other ways to manage your debts, including through various kinds of debt consolidation for unsecured debts, e.g. a Consumer Proposal or debt management program, and debt settlement.

Here’s what you need to know about where to get free bankruptcy counselling and how free, professional insight can help you make an educated decision.

Certified Credit Counsellors Provide Free Credit & Debt Counselling

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First and foremost, seeking the help of a certified Credit Counsellor is the best way to get a sound footing on your debts and decipher whether personal bankruptcy is a viable option for you. By choosing a not-for-profit credit counselling service, such as the Credit Counselling Society (CCS), you can meet with a professional in the field who will evaluate your financial situation. Appointments at CCS are free and confidential – there’s no need to feel embarrassed about your situation; our experienced, friendly Counsellors make it their priority to help you without any judgment.

How Credit Counsellors at CCS Can Help

Credit Counsellors at CCS can help you in many ways, but in an initial, free meeting, we simply go over your finances, including your assets and debts, to provide a clear snapshot of where you stand and the various options and solutions that may best suit your needs. If you have questions, your Credit Counsellor is a wealth of information and is happy to answer them.

Your Credit Counsellor will help you create a plan to tackle your debts, consolidate debt, or explain how you can best handle your finances on your own. They’re there to help you understand where your money is going and why you’re in a precarious financial situation. Within a session or two at the most, you’ll be well-equipped to decide which route you’d like to take to deal with your debts.

Licensed Insolvency Trustees Provide Information About Legal Debt Solutions

If you want to file for bankruptcy after carefully studying your options, we can refer you to a Licensed Insolvency Trustee (formerly known as a bankruptcy Trustee) to help you with the next steps, beginning with free bankruptcy counselling.

Getting referred to a trustee is a crucial step, especially in a world where there are many get-out-of-debt quickly organizations that may entice you with quick fixes only to leave you suffering with hefty bills, little support, and even more debt.

Licensed Insolvency Trustee are the only people licensed by the Superintendent of Bankruptcy in Canada to carry out Consumer Proposals and bankruptcies. Your Trustee acts as your advisor, guiding you through the process from filing initial paperwork and satisfying ongoing requirements, to obtaining your discharge and ensuring your rights are respected by your creditors.

Akin to the credit counselling consultation, your Trustee will meet with you for a free, initial consultation in which you’ll go over your financial situation, taking into account your debts and how you’d like to reshape your financial future.

With their counsel, you’ll decide on next steps regarding bankruptcy or a Proposal. (A Consumer Proposal is a legal agreement between you and your creditors in which you promise to repay part of the debt you owe via monthly payments. It’s an avenue considered by some consumers who can’t afford to pay back their whole debts – with or without interest – and don’t want to declare bankruptcy.) If you decide to go bankrupt, your Trustee will explain the whole bankruptcy process for you, including how the bankruptcy-specific credit counselling appointments work.

Get Help Dealing with Credit Card Debt & Collection Agencies to Keep Bankruptcy Counselling at Bay

One reason many people think about going bankrupt is because collection agencies are calling about past due credit cards. Does this sound familiar? You might even be worried about your credit rating. When keeping up with regular payments for your debts and bills becomes a problem, your credit rating will be negatively impacted, but there are many ways to stop the slide. Contact us now by phone, email, or anonymous online chat to find out about bankruptcy, counselling for your finances, and all there is to know about options and solutions for dealing with debt in Canada. With a free appointment, you’ve got nothing to lose but your debt.