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For some the residents, declaring bankruptcy is the only solution they can think of to get debt relief in Toronto. They have built their debt up to the point where worrying about money and how to pay their bills is almost all they think about. Bankruptcy seems to be the answer to get a fresh start.

Sometimes debt accumulation is a result of living too high a lifestyle by buying that car you really don’t need or eating out at fancy restaurants too often. Maybe you were stretching yourself financially to buy that big house to keep up with your friends and family. Now you’re concerned interest rates are about to increase and if they do, you’re in big trouble as you’re not keeping up as it is.

While the above is the reason why some people consider bankruptcy, more often than not it’s a scenario where a job loss, layoff or a series of unexpected expenses has put an individual or family into massive debt. Once the debt starts to accumulate it’s like a fast moving train and almost impossible to stop. You borrow from one credit card to pay off another and before you know it your credit is exhausted.

You are now at the point where your monthly expenses far exceed your earnings and you’re looking for options. A debt consolidation loan is an option however what happens if you get turned down? As a result, you put it off and later when you get the nerve to contact your bank, they decline your application. Now what do you do?

You will be pleased to know that there are options and bankruptcy is only one of them. There are also people and companies out there that are ready to help.

Richard Killen & Associates, a Toronto Licensed Insolvency Trustee has been helping people with debt problems to get back on their feet financially. Having helped thousands of individuals all across the GTA, they are the go to company for people in need of solid advice in Toronto.

There are lots of companies wanting to sell you their services however only a Trustee in bankruptcy can offer you all the debt relief solutions. They are licensed to offer you all the solutions and can provide you with both the benefits and legal consequences of each solution. This could be debt consolidation, creditor negotiation, a consumer proposal or a bankruptcy.

They can negotiate on your behalf and give you the unbiased advice you need. After all would you like to know all your options or just some?

Making the call to our office will likely be one of the most stress relieving calls you’ll ever make. Call us today at 1 (888) 545-5365 to book your FREE consultation. Our Toronto location is just south of the 401 on the west side of Islington.  Our address is Richard Killen & Associates 2150 Islington Avenue, Suite 202, Toronto ON M9P 3V4. We understand that good people sometimes get into difficult situations.

For more information on debt relief in Toronto or declaring bankruptcy, please call our Toronto office today at 1 (888) 545-5365to get the relief you’ve been looking for!