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Personal Bankruptcy

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Uploaded by on Mar 24, 2008

Ted Michalos of Hoyes, Michalos & Associates, Bankruptcy Trustees answer questions about declaring Personal Bankruptcy in Canada. Visit www.hoyes.com for more information.

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  • I think everyone should go bankrupt to clean the slate in this new economy and live debt-free from now on. Pay for everything in CASH and never finance anything. My friend pay his house off in 3-1/2 years. He drove the same car from high school and never got into any debt. He pays off brand new cars in full and still lives in the same house mortgage free after 20 years now.

  • Well Canada's population is about a tenth of the US, so the math is still proportional.

    However, in Canada people don't go bankrupt due to overwhelming medical bills as happens in the US, since in Canada healthcare is subsidized by the Government.

  • Only 100,000 people file bankruptcy? Man, you people must have an awesome economy to pull that off while the US is cranking out over 1,000,000 bankruptcies per year.

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