Some times, when we meet with people during an initial consultation, we often hear questions from people that start with the phrase “My friend told me…”

For example,

“My friend told me my name will go in the local newspaper saying I’m bankrupt”

“My friend told me you get a criminal record if you go bankrupt”

“My friend told me the trustee works for your creditors”

The answer to all of the above questions is ‘not true’. Basically speaking, the trustee does not work for your creditors, you don’t get a criminal record just for filing a bankruptcy and your name only has to be published in a newspaper if the trustee is going to receive more than $15,000 from selling assets you own that are not exempt from the trustee taking.

If you have heard people talking about bankruptcy and you’re not sure about advice you’ve been given – call us - talk to a professional first and get proper, informed, correct advice before deciding for yourself what the correct facts about filing a bankruptcy are.

A lot of people believe that those who need to file bankruptcy are lazy, irresponsible people who have gambled away their earnings. In reality, people who file personal bankruptcies are often average people like you and me who hit some unfortunate circumstances and couldn’t keep up with their finances as a result.

The negative stereotypes associated with bankruptcy make some people afraid to do it or may feel embarrassed in case their friends find out.

If the fear of what may or may not happen, is stopping you from filing a consumer proposal or personal bankruptcy will only make your financial situation worse. You can take the first step toward getting a fresh start by calling me today at 519-622-3773 or sending me an e-mail. I look forward to meeting with you in Cambridge and helping you make your plan for a fresh start!