Welcome to Bankruptcy Brantford Ontario

• Work through the problems on your own, perhaps by making a budget and cutting expenses.
• Get a debt consolidation loan to lower the interest you are paying, so you can pay off your debts faster.
• Talk to a credit counsellor at the Family Counselling Centre of Brant, Brantford's only not for profit counselling agency
• Consider a consumer proposal;
  
• If none of those options are possible, bankruptcy may be the final option.

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Why is this happening?

First, more people in Brantford are losing their jobs, or having their hours reduced at work, so they just can't make ends meet.

Second, house prices continue to fall in Brantford, so it's no longer possible to re-finance your house to pay off your debts, or sell your house at a profit to raise cash. An increasing number of Brantford residents are finding themselves "under water" (the value of their house is less than the amount owing on the mortgage), so they are letting the bank foreclose, and they are finding a place to rent, and then dealing with the resulting shortfall.

Finally, a large number of the people I meet are no longer optimistic. They believe that the recession won't end tomorrow, so they are deciding to go bankrupt now to deal with their debts, in the hope that by 2010 the economy has improved, and they will have a fresh start.

I can't predict when the recession will end, or when house prices in Brantford will start to increase, but I can tell you that debt problems don't go away on their own, so if you are struggling with debt, now is the time to act. Call my Brantford bankruptcy office at 519-770-4440 or 310-PLAN (no area code required), or e-mail me today with your questions, and let's get started making a plan for dealing with your debts.

Labels: bankruptcy Brantford, bankruptcy statistics Brantford