10 Milner, Business court, Suite 334 Toronto, ON M1B 3C6



What is a consumer proposal?

A consumer proposal is a legally binding agreement between a debtor and his creditors that needs to be filed by a licensed Trustee who is called an “Administrator”. In most cases, you will pay back much less than the full amount, interest free, and over a maximum period of 60 months.

Who is eligible to file for bankruptcy?

In order to file for bankruptcy, you

1. owe at least $1,000;

2. are 18 years of age or above;

3. are unable to meet your obligations as they become due.

At Debt Free credit solution, we will discuss all the available options that you have including alternatives to bankruptcy.

What happens after I file?

The “cost” of a bankruptcy varies depending on many factors.

Some of the items considered are:

1. Your monthly income;

2. Monthly eligible deductible expenses;

3. The size of your household; and

4. Assets that you own which are not exempt.

The minimum fee is set by the government. The actual costs can vary from one person to another because everyone’s situation is unique.

As a result, we offer a free initial consultation and can walk you through the “cost” of a bankruptcy that would be unique to your circumstances.

Who files for bankruptcy?

Recent government studies have shown some common “events” that contribute to or cause people to experience financial problems. They’include:

1. Loss or reduction of income;

2. Marital breakdown;

3. Sudden / unexpected illness;

4. Business failure; and

5. Financial mismanagement [misuse of credit).

When is filing a personal bankruptcy the right choice?

At Debt Free, we view filing a personal bankruptcy as a final solution and will walk you through all the other options that you may have.
However, we recognize that sometimes it is the right solution to solving your debt problems.

When all other options have failed, please call us to discuss your personal situation to decide whether bankruptcy is the solution for you. You have nothing to loose, as your initial consultation is free.

Call 416.834.7227 to schedule a meeting