Debt Learning Centre

Here you will find a number of useful tools and educational materials, which will help you on your quest to find freedom from debt.

Home > Bankruptcy: Advantages and Disadvantages

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Bankruptcy

Filing for bankruptcy will give you immediate relief from the collection actions of most of your creditors.

Advantages:

You have to repay very little, if no money to your creditors.
You can start fresh.

Disadvantages:

A bankruptcy can remain on your credit report for 7-10 years.
You could lose your job or prevent yourself from getting a promotion.
A bankruptcy on your credit report could prevent you from purchasing a home or a car.

For more information or questions please feel free to contact our Financial Resources Group at 1-800-656-3920.

Get Relief From Debt

We are a proud member of The Canadian Association of Credit Counselling Services (CACCS), the National Voice for Not-For-Profit Credit Counselling. As a CACCS member, you can trust that our Certified Credit counsellors and Financial Fitness Coaches will provide the best in professional, independent and unbiased personal financial expertise. We’ve helped over 500,000 people with their debts issues, call us today and see what we can do for you.
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to speak with a counsellor today!

Consolidated Credit Counseling of Canada is proud to be a member and support the Toronto Board of Trade. Founded in 1845, the Toronto Board of Trade is Canada’s largest local chamber of commerce. We share their vision, passion and commitment to serving the community and to foster economic and social welfare of the City of Toronto. Call us today and see what we can do for you.

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We are proud members of the Ontario Association of Credit Counseling Services (OACCS). OACCS sets the standard of required expertise for the financial counseling industry and the only organization to offer the exclusive professional designation of Accredited Financial Counsellor Canada (AFCC). With over 500,000 people helped, you can be assured that we can find the right solution for you. Call us today.
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