Every business is unique with its own issues and complexities. Therefore it's hard for me to give advice on bankruptcy without knowing your specific situation. We recommend that you review your situation with one of our licensed insolvency trustees.
If you are considering filing for bankruptcy as a way to help manage or reduce your debt load, you need to know that declaring bankruptcy is nothing to be ashamed of.
If you carry around a credit card or two, like most Canadians, it’s not necessarily a problem. Credit cards offer convenience and flexibility, and used correctly, can help you build a good credit rating as well.