What are the Alternatives to Bankruptcy?
Bankruptcy in Kelowna is considered a last resort. Before you consider this option, you should exhaust all other options first. Since bankruptcy in Kelowna has a big impact on your credit record, only consider it when there are no more options. So, what are the alternatives to bankruptcy, and which one is right for you? Debt Consolidation One of the options you should consider is debt consolidation. In debt consolidation, all your debts from different lenders will be bought by just one bank so you only have to pay that one bank for your dues. This can be ideal for people with loans from multiple banks. One of the advantages of this is that it makes it easier to keep track of all your loans. You can pay them to one company only, thereby reducing the stress of monitoring your debts. Consumer Proposal A consumer proposal is also another option. It slashes down your loan so you are only obliged to pay a small portion of it and that can be divided into multiple pa...