Get Approved for up to $35,000 in 3 minutes
Apply Now

Filing for Bankruptcy in Canada: Pros and Cons

Debt can be a very stressful part of life. Sometimes, that debt takes over and we need to find a way to deal with it. In a case like this, you need to weigh your options. There are a few different ways you can deal with your debt and/or make it more manageable. The way you choose to do that depends on the severity of your financial situation. It is also important to keep in mind the negative effects of whatever debt resolution that you choose. For some people a debt consolidation loan could be the answer, but for others they may need to consider a consumer proposal or even bankruptcy. There are positives and negatives to each of these options, but bankruptcy has more negatives to consider than the other options.


You May Also Like:

Save & Invest | Jan 27, 2023

Are RRSPs Worth it?

RRSPs (Registered Retirement Savings Plans) are something that most of us have heard of. It may have even been recommended to you to start one, but is it worth...

Read this Story

Save & Invest | Jan 27, 2023

How to Invest in Index Funds in Canada

If you are a new investor, it can be very overwhelming to figure out where to start. There are so many different options to choose from, but one of the popular...

Read this Story

Save & Invest | Jan 13, 2023

The Best No-Fee Bank Accounts in Canada

When looking into opening a new account, whether that be chequing or savings, one of the things we tend to overlook are the fees. While it has become a bit of t...

Read this Story
Need help?

Visit our help centre for more information

Looking for more details about a specific service? Need to get a hold of us regarding an existing account? We are here to help!

Help Centre

Let’s grow together.

Get a Loan Quote