What are the benefits of declaring bankruptcy?

Answer When debt becomes overwhelming, bankruptcy may seem like the only option. Although a bankruptcy can leave a nasty scar on your credit history, the process does have some benefits.PurposeBankruptcy ... Read More »

Top Q&A For: What are the benefits of declaring bankruptcy

How do I build credit after declaring bankruptcy?

Obtain a free copy of your credit report. Review creditor and inquiry information to be sure all accounts included in the bankruptcy petition are properly discharged. Contact the three major credit... Read More »

What is the difference between declaring bankruptcy&insolvency?

Understanding the difference between bankruptcy and insolvency can be difficult, in part because society tends to treat them. They actually deal with two different sides of the same pressing issue:... Read More »

Can I travel outside Canada after declaring bankruptcy?

There are no restrictions on traveling outside of Canada while bankrupt. Trustees do need to be able to contact a bankrupt individual at all times, so it is advised they are informed before any tra... Read More »

Is there a probationary period after declaring bankruptcy?

The U.S. Bankruptcy Code governs all aspects of bankruptcy proceedings. The Bankruptcy Code does not require or impose a probationary period after a debtor declares or files a bankruptcy case.Sourc... Read More »