1 - Bankruptcy During Covid-19

The economic effects of the COVID-19 pandemic on Canadians have varied wildly. Some have thrived while others are hanging on by a thread. Licensed Insolvency Trustee, Derek Chase, talks about the financial challenges that many are facing and what options Canadians with overwhelming debt have. 

In this episode, Derek goes through the do’s and don’ts of managing debt and answers some of the most frequently asked questions:

• Should I cash in my RRSPs to pay down my debt?
• Do you actually lose everything when you file a Bankruptcy?
• What’s the difference between filing a Consumer Proposal and a Bankruptcy?
• What actually happens when I make that first call to a Trustee?

Licensed Insolvency Trustees are federally regulated and approved by the Canadian government. They are the ones that will give you honest advice about all the options available to you. This podcast is a great starting point to get the facts from an experienced debt expert before you make any decisions. 

Additional Resources:

• Derek Chase & Associates Licensed Insolvency Trustee Website
• Personal Bankruptcy Services From Bankruptcy Trustee BC
• Consumer Proposal in BC – What Is A Consumer Proposal?