When facing serious financial difficulty, clients need solid, sober advice regarding their options. When debts cannot be managed, there are generally two options: filing a proposal or filing for bankruptcy, both under the Bankruptcy and Insolvency Act. To either file a proposal or go bankrupt, it is necessary for a person to be insolvent, which means you must owe at least $1,000 and be unable to meet debts as they are due to be paid.
These are difficult options to face. When the ground beneath you seems to be giving way, we offer to steady the earth beneath your feet. Perley-Robertson, Hill & McDougall has an experienced group of bankruptcy lawyers in the Ottawa area that can provide invaluable direction when you need it most, and help you proceed when a course of action has been determined. Bankruptcy and insolvency law is a complex area and all of your options must be carefully considered prior to making a decision.