20 - When to Declare Bankruptcy in Canada

As the COVID-19 pandemic drags on, debt-ridden Canadians are seeing their quality of life diminish. Seventy percent of those surveyed say that new debt is making their quality of life worse. If you are struggling, you may be wondering just when you should be reaching out for help.

This podcast features Jillian Taylor-Mancusi, Licensed Insolvency Trustee with LCTaylor out of Winnipeg, Manitoba. She describes her experiences working with people who come in stressed and how they leave with a smile on their face, knowing they have options. 

Jillian also discusses:

• What to expect when you first meet with a Licensed Insolvency Trustee
• How much debt is too much and when you should seek help
• Cashing in RRSPs to pay down debt
• How a Stay of Proceeding stops collections and and when it takes effect
• The negative outcome of co-signing loans and lending money to family or friends

Licensed Insolvency Trustees are federally regulated and are knowledgeable in all aspects of debt management. Whether it’s budgeting or filing for Bankruptcy, you can be assured that they will give you honest advice to help you deal with your debt. 

Jillian is a Licensed Insolvency Trustee in Manitoba and Northern Ontario. She has been working in the insolvency field since 1992. A member of the Canadian Association of Insolvency and Restructuring Professionals (CAIRP), Jillian also serves as chair for Dressage Winnipeg.

• LCTaylor - Licensed Insolvency Trustee in Winnipeg
• Filing for Bankruptcy in Winnipeg, MB
• Declaring Bankruptcy for the First Time in Canada