Canadian Customer Debt Relief Inc. 228-408 Broad Street Regina, Saskatchewan S4R 1X3
Toll Free (866) 804-7750 Local (306) 757-2237 FAX (306) 584-2237 Licence# 313926
Canada's Debt Help Experts!

Average payback $0.00 (but costly)

Trustee fee (generally avg. $1500-2500).

Many other possible fees that could move into the thousands depending on your situation.

Pros

  • - All unsecured debt eliminated (some exceptions apply)
  • - Collection activity stops
  • - Legal action stops

Cons

  • - 7+ years on credit file
  • - Public record
  • - all unsecured debts must be included
  • - Loss of future opportunities (i.e. most employers pull credit reports as do landlords).
  • - Assets can be seized
  • - Tax refunds Kept while bankrupt
  • - Earnings are limited based on household members and if you earn more than the allowed amount typically ½ that is taken and sent to creditors
  • - Any win-fall or inheritance may be seized
  • - Each month, you must report your household income and living expenses to ensure you’re not making more than you are allowed while in the bankrupt state.
  • - If you borrow more than $500, you must tell the lender that you are bankrupt.
  • - You may not be a director of a company.
  • - You may have to surrender assets (i.e. car, excessive belongings over allowed amounts.)

 

  • Average Bankruptcy
    0%
    Severe Credit Impact and costs

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