Personal Bankruptcy Lawyers - Canada Business Law
Debt is practically impossible to escape. Purchasing a home or a vehicle are two major acquisitions which cause most individuals to acquire debt. Few people can afford to purchase the necessities of life without incurring some form of debt.
The vast majority of consumers are able to repay their debt obligations in full over time without missing payment dates. For the unfortunate minority, this may not be true for a number of reasons. Loss of a job, illness or death of the major breadwinner can plunge an individual into a situation whereby he or she is unable to continue to meet financial obligations.
In cases such as these, a bankruptcy lawyer may be able to assist through various avenues available to an individual in dire financial circumstances. A personal bankruptcy lawyer can, through negotiation :-
- Restructure debt.
- Alter repayment schedules.
- Negotiate settlement of debts.
If negotiations on behalf of a person in debt fail to reach an appropriate resolution, the personal bankruptcy lawyer can file appropriate bankruptcy documents.
If the individual is unable to meet his or her financial obligations due to a debt owed to him or her by another party, a bankruptcy solicitor can apply to the court to have the other party deemed bankrupt. This may be of assistance to the individual if the other party enters a voluntary debt resolution arrangement.
Debt and Personal Insolvency Agreements
Debt and Personal Insolvency Agreements are formal documents whereby an individual extends repayment plans or options to his or her creditor(s). These agreements are increasing in popularity, especially in light of the recent global economic situation. If a creditor is agreeable to a Debt or Personal Insolvency Agreement, the individual will not have to apply for bankruptcy.
Personal Bankruptcy Lawyer
Each individual’s circumstances are singular and a personal bankruptcy lawyer can best advise which approach is wisest. Personal bankruptcy lawyers deal with hundreds of debts cases and have a vast range of knowledge regarding viable options.
We offer a free legal consultation with our personal bankruptcy lawyers. The legal consultation does not have obligations; if you chose not to retain our specialized personal bankruptcy lawyers, no fees will be charged. Our offices are conveniently located throughout the Canada.