When should I file bankruptcy?
There are several reasons why you might want to file for bankruptcy immediately. The problem is, many people in these situations still continue to wait a very long time before reaching out to a licensed insolvency trustee. This kind of a delay will only make your debt situation worse. If you’re currently experiencing one of the…
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Can filing bankruptcy eliminate child support payments?
Many people consider filing for bankruptcy when their debts become far greater than what they can afford to pay. Bankruptcy helps you eliminate or pay off past due bills, which allows you to get caught up and start over. One question you may have when considering bankruptcy is if it will get rid of everything you owe,…
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What Not To Do If You’re Thinking of Filing Bankruptcy
People who are considering filing for bankruptcy often think about what they need to do to prepare for their case, such as gathering their bills, collecting paystubs, and consulting a Licensed Insolvency Trustee like Welker & Associates. There are also several things you should definitely not do if you’re thinking about bankruptcy. To ensure your…
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Do Not Let Debt Overshadow Your Thanksgiving
All Canadians in debt should be thankful for the Bankruptcy and Insolvency Act. The Bankruptcy and Insolvency Act was designed to help people who are struggling with debt, and as a Licensed Insolvency Trustee, I am thankful that I can use this legislation to help the people that I meet with. The Bankruptcy and Insolvency Act also works with provincial legislation to…
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Bankruptcy and Credit: Will I still be able to get credit in the future?
Thousands of Canadians file bankruptcy every year, and most of those Canadians have similar concerns. One common concern is that they will end up with terrible credit after the bankruptcy process is complete. It’s true, bankruptcy will adversely affect your credit score. When you want to apply for a mortgage, credit card, or any type of…
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Bankruptcy Today Makes For a Better Financial Future
Some people believe that filing for bankruptcy is synonymous with the end of the world as they know it – a complete breakdown of their personal finances. But in reality, bankruptcy is a lot less dramatic than that. Although it may feel like a significant setback, bankruptcy can actually improve your situation, solve your unsecured debt…
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Should seniors file bankruptcy?
You may be surprised to know that the fastest growing demographic group of bankruptcy filers is those over 65. This is because there fewer traditional pensions, there was a lot of availability to easy credit before the Great Recession, and seniors have been supporting younger family members more now than ever before. But, if you…
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Divorce is a Common Reason for Bankruptcy
Many people are scared of the word “bankruptcy” but it can actually be something that can change your entire life for the better. There are many different reasons that people choose to file for bankruptcy and it is not something to be ashamed of. However, a very common factor when it comes to bankruptcy is…
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Do I need a referral?
At Welker & Associates, we offer free consultations to anyone who is looking for help with their financial situation. You should never have to pay a trustee up front to discuss options. However, there are some companies who act as consultants for trustees and a representative from the company will meet with you to discuss your financial options. In most cases,…
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Re-establishing Credit After Bankruptcy
People often express concern over the affect filing bankruptcy will have on their credit score, as well as their ability to re-establish credit after filing bankruptcy. The answers to these questions can be somewhat complex, depending on the circumstances. One thing is for sure, people contemplating bankruptcy frequently have low credit scores to begin with. Therefore,…
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