After filing bankruptcy, you should no longer receive statements from creditors. But, in some instances, you may still receive some statements. Don’t worry. If you’ve filed bankruptcy or make a consumer proposal, there is no need to worry about the statements.
Your debts do not affect your spouse’s credit rating!
The short answer to the question “Is bankruptcy bad” is no. When a lender borrows money, they are gambling that the borrower can not only repay the debt – but also that the borrower is going to pay them a fee for doing so.
Every day at Welker & Associates, we field questions about whether or not people can keep their car when declaring bankruptcy. Terms like thresholds, equity and wholesale value get thrown around, and it can be confusing for people in an already complicated situation.
There are many important things to consider when filing bankruptcy, and whatever decision you make, you’ll have to live with both positive and negative consequences. How is Corporate Bankruptcy different than personal bankruptcy?
While most of our potential clients ask about what happens when they file bankruptcy, and what they need to do when they’re filing, many don't ask what NOT to do. The things you shouldn’t do before filing are just as important as what comes afterwards.