Should You File for Bankruptcy? 3 Questions You Should Ask First
You shouldn’t file for bankruptcy in Kamloops if you haven’t exhausted all your options yet. Filing for Bankruptcy in Kamloops just seems like the last option of people who are deep in debt. But before you do that, you should ask the following questions first: 1. Have you negotiated your debts with your creditors already? If you are having a hard time paying off your debts, perhaps because you’ve fallen on hard times, the first thing you should do is talk to your creditors. They can make some concessions on your loan and even make changes to make them easier to pay off. 2. Have you considered selling off your other assets? You might be able to liquidate some of your assets to pay off your debts. That can help ease up some of your debts, so you don’t feel overwhelmed. 3. Have you considered filing for a consumer proposal? A consumer proposal is an agreement that is filed with the help of an LTI or Licensed Insolvency Trustee. Once approved, it can help consolidate your de...