45 – What it Means to Go Bankrupt

Trustee in Bankruptcy, Benny Mendlowitz answers the most pressing questions about paying down debt by filing bankruptcy. Benny is a trustee at Hoyes Michalos in charge of our Scarborough and North York offices and during the show he answers these frequently asked questions:

• What does it mean to go bankrupt?
• What does it cost to go bankrupt?
• What if I don't want to go bankrupt?
• Can I keep a credit card during bankruptcy and how will filing affect my credit score?
• How can I get rid of the stress caused by my overwhelming debt?

Benny points out that not everyone has to go bankrupt. However if you can't pay your bills, have credit card debt, struggle with your car payments you need to do something. Meeting with a bankruptcy trustee is a start.