Bankruptcy in Prince George

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How do I know if bankruptcy is right for me?
Generally the people who file for bankruptcy are those who are behind on monthly payments and other expenses, and are in need of a clean slate.

What happens in a bankruptcy in Prince George?
In Prince George you will be required to give all of your assets to a licensed bankruptcy trustee, in exchange for the elimination of your debts. You will be allowed to keep some necessary or valuable possessions, but the list is limited. Consult a bankruptcy trustee for a full list of exemptible assets in Prince George.

Will my credit report be affected?
Yes, unfortunately it will be. Though bankruptcy will rid you of most, if not all of your debts, it will be more difficult for you obtain credit in the future. Bankruptcy could remain on your report for 7-10 years.

Do I have any other options?
Bankruptcy is a great option for those who need a fresh start, but it is not the only one. Additional bankruptcy alternatives include consumer proposals, debt management plans, and debt consolidation.

What will it cost to file for bankruptcy?
Costs will depend on the size of your family, your monthly income, and the size of your family.

It is not wise to simply jump right into a bankruptcy. All other alternatives should be attempted, or at least explored before you result to bankruptcy. We recommend contacting our licensed bankruptcy trustees in Prince George immediately, to set up a free consultation. We will carefully review your situation and help you establish the best solution for your needs. To contact a bankruptcy trustee in Prince George, British Columbia, click here.

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