108 - Top Reasons for Declaring Bankruptcy

Most money problems are caused by events beyond our control. It’s a common misconception to think that people who are insolvent have spent their way into Bankruptcy. A job loss, illness, injury or marital breakdown can often be the last straw for someone in a precarious financial position.

In today’s podcast, Derek Chase talks about Bankruptcy and the people who file, from a Licensed Insolvency Trustee perspective. He discusses:

The demographics of who is filingThe most common factors that can lead to BankruptcySurface reasons versus underlying causes of insolvencyHow filing for Bankruptcy can free funds to carry on livingThe importance of credit counselling after being dischargedReasons people avoid seeking help

If you are looking for stellar advice about how you can best manage your debt, a Licensed Insolvency Trustee can help. They are federally regulated and licensed by the Canadian government. You can rest assured that you will be treated fairly, without being judged. 

About Derek Chase

Derek Chase is a Licensed Insolvency Trustee in British Columbia. He has been helping individuals and corporations restructure their debt since 1997. His areas of practice include personal and corporate insolvency including Consumer Proposals and Bankruptcy. The best part of his work is to be able to witness lives change for the better when the heavy burden of unmanageable debt is lifted. 

Additional Resources Chase & Associates - Licensed Insolvency TrusteeBankruptcy Advice: 3 Reasons Bankruptcy Could Be the Right ChoiceBankruptcy Eligibility: Do I Qualify for Bankruptcy?