135 - How Fear of Bankruptcy Can Keep You Financially Stuck

Canadians’ debt is on the rise with increased interest rates and the soaring costs of living resulting in many teetering on the brink of insolvency. Still, most people cling to the notion that Bankruptcy only happens to 'deadbeats', but nothing could be further from the truth. In this podcast Licensed Insolvency Trustee, Amanda Sherwood dispels some of the myths surrounding Bankruptcy. She addresses the fears around this debt relief option. Amanda also discusses:

Looking at Bankruptcy as a tool that will reset your finances How and when to speak to your bank  Licensed Insolvency Trustee’s role is to mediate between you and your creditors The number one myth that you will lose everythingHow the Bankruptcy process is tailored to individual situations

If you are struggling with your finances, Licensed Insolvency Trustees can help. They are considered some of the best debt advisors in the country and the only ones licensed by the federal government of Canada. 

About Amanda Sherwood

Amanda started with Allan Marshall and Associates in 2008 as an Estate Administrator. She has since received her Chartered Insolvency & Restructuring Professional (CIRP) and her Licensed Insolvency Trustee (LIT) designation in 2022. 

The most rewarding part of her job, Amanda says, is hearing her clients say how relieved they are after meeting with their office. She reminds everyone that they are not alone and that help is available to get relief from insurmountable debt.   

Additional Resources Allan Marshall & Associates Licensed Insolvency TrusteeMoney and Stress: Connecting the DotsWhen Is the Right Time to Declare Personal Bankruptcy?