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Forum - Gurus Answer Questions    Gurus answer your questions about the art of trading.

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From: msgreenacres (Rep: 489) reply to Herbert01Date: 01/07/2018 13:22
Forum: Gurus Answer Questions - Msg #621Thread #673975547 (Rec: 0)
Speak to a Lawyer. This is a stock forum

Re: Advice on Bankruptcy!

These are my opinions.  Please do your own DD  :) Happy Trading

Reply to Herbert01 - Msg #609 - 12/21/2017 05:39

Advice on Bankruptcy!

I need some information on bankruptcy. I have no other way to meet my debts and I heard, the following points are the criteria to apply for bankruptcy.

1) You must be a resident of Canada.
2) You are unable to pay your bills when they are due and
3) You owe more than $1000.00

Are there any more conditions to qualify for bankruptcy? What are the merits and demerits of the process? Is bankruptcy a good option?

Should we meet some Licensed Insolvency trustee to declare bankruptcy? Can anyone explain me the procedures? If so, suggest some bankruptcy trustees in Brampton. I came across many, but need to know your previous experience. Thank you.
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