What Happens To My Job If I Go Bankrupt In Ontario
In this video, Richard Killen, a Toronto-based Licensed Insolvency Trustee talks about if your job is affected by a bankruptcy.
Generally speaking, a person’s employment is not affected by a bankruptcy and not affected negatively by a bankruptcy. In fact, in may be affected positively by a bankruptcy. This is because you might be able to focus a lot more on your job if you don’t have to worry about your debts. However, in terms of any legal effects of a bankruptcy or proposal, there are some professions where it is effected, chartered accountants, for instance, lawyers, people who operate trust accounts like real estate brokers, things like that. There would be some negative affect of going bankrupt for people in those positions. But, for the vast majority of us, nope, the main effect is often positive. So, to answer the question, don’t be afraid of your job being affected negatively by either a bankruptcy or consumer proposal.
If you have debt problems and are concerned about how it may affect your job, I encourage you to call our office and talk to a trustee.
Licensed Insolvency Trustee Advice: 4 Things for Debt Solutions
In this video, Richard Killen, Licensed Insolvency Trustee based in Toronto, Scarborough, and 8 other debt relief locations in Ontario talks about 4 important things to keep in mind before deciding on a Licensed Insolvency Trustee.
When people start looking for insolvency solutions, they are usually operating under a fair amount of stress for quite some time. Which is why you should always keep the following in mind before you go any further in your search.
- Always use a Licensed Insolvency Trustee (LIT) – this is one of the best ways to ensure that you’ll be able to handle all the stress associated with bankruptcy procedures. Richard Killen and Associates is licensed by the federal government to administer the processes provided by law which is the quickest way to deal with all the stress and worry you may be experiencing.
- LIT will review all your options with you – an LIT is legally obligated to review all your options and help you make the right decision based on your financial situation.
- Stress relief happens immediately – some may be reluctant to visit an LIT due to the negative impression of filing for bankruptcy. Fortunately, LIT can offer bankruptcy alternatives and explain to you all of them which alleviates the stress of feeling like you have no other options.
- Misinformation – there has been so many myths and false information available today about bankruptcy and the insolvency process that you shouldn’t immediately believe. The Bankruptcy and Insolvency Act – the law that we operate under – provides bonafide solutions to problems that can’t be solved in any ordinary manner. These are solutions that work.
So remember, only a Licensed Insolvency Trustee can work with you and show you all of your options and help you find the right solution for yourself and we can put that solution into effect as soon as possible.
There is no cost for your initial meeting and we will explain all of your options to you. We can meet with you during business hours or book after hours appointments if that is more convenient. Richard Killen and Associates is a Licensed Insolvency Trustee in Scarborough and have 10 locations across the Greater Toronto Area. Call us at (416) 285-9511
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