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Bankruptcy Cambridge

Bankruptcy Cambridge

We are sure you have heard before that bankruptcy in Cambridge is a bad thing. But do you know why it should be avoided at all costs? Today we are going to take a look at some reasons why you should avoid bankruptcy if at all possible. At Access Mortgage, we can set you on the path of financial freedom and debt relief through other strategies. If you are considering filing for bankruptcy, WE WANT TO HEAR FROM YOU FIRST! Don’t risk damaging your credit for up to 7 years. There are other ways, and Access Mortgage will show you! Read on for more information about why you should avoid filing for bankruptcy.

Click here to set up your call with an Access Mortgage professional!

The following is a list of reasons why you should avoid filing for bankruptcy in Cambridge:

Emotional baggage and stress:

The emotional baggage and stress can be immense and overwhelming. Knowing that you are in financial ruin is not a fun place to be. People who claim bankruptcy often feel like failures and feel a strong sense of guilt because they didn’t pay back the money that they had agreed to pay. The embarrassment of admitting your failure to family and friends can be difficult to overcome.

Affects your credit in a big way:

Filing for bankruptcy affects your credit in a big way. Canada’s largest credit bureau, Equifax, keeps the record of your bankruptcy on your file for 6 years after the date of discharge or your last payment. That is a long time to not have access to any credit. With a bankruptcy on your credit bureau report, most lenders will not even consider lending money to you. That plainly means you won’t be able to have any form of credit for a long time and it will be difficult to re-establish your credit after the bankruptcy.

Not all of your assets are protected:

Some of your assets may be protected, but not all of them are exempt in a bankruptcy. If you have assets that are not protected, you will have to surrender them to be sold and the funds from the sale will be distributed among your creditors. Depending on your situation you may have to give up certain assets that you may have been able to keep had you used another form of debt help.

As these are just a few of the reasons why you should AVOID filing for bankruptcy in Cambridge, Access Mortgage has a few other strategies that you can take advantage of. Through a refinance or debt consolidation, you can be on your way to financial freedom WITHOUT damaging your credit.

Debt Consolidation:

Debt consolidation is a tool that can give you the ability to quickly and easily reduce your existing debt. In some cases it is possible to eliminate a huge percentage of your debt in one fell swoop. This process can save you paying astonishingly high interest rates on thousands of dollars of debt when there is simply no need. Debt consolidation will combine all of your lines of credit into one manageable loan.

Refinancing:

Refinancing pays off your existing mortgage or any other legal claims, then provides a brand new mortgage. If the current rates are lower than when you received your initial mortgage you could save a great deal of money by refinancing.

For more information about why you should avoid filing for bankruptcy in Cambridge, and instead, consider other strategies like debt consolidation or a refinance, please feel free to continue browsing through our Access Mortgage website. Click here to find our contact information and to fill out our contact form.

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    We would like to thank Matthew and his team. We put a lot of money down on a Rent to Own property that we were renting, but we could not get anyone to help us out till we found Mathew. He made it happen and closed on time when know no one else could. From all of us here THANK YOU! We now own our own house!

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    Matthew and his team are the best mortgage team I have ever worked with. They are extremely hard working and bend over backwards to get the job done no matter how complicated or difficult. If there is a way – they will find it. And it will be in YOUR favor. Matthew goes out of his way to set you on a path of success. This is our second mortgage process we have gone through with Matthew, and we are in a better position now than we were the 1st time – all due to Matthews efforts and guidance. After following his recommendations and guidance over the next year we will use Matthew again for our next mortgage and be in an even better position then. If you need a mortgage done, no matter how complicated, call Matthew. He’ll make it happen.

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    I just want to say ‘thank you’ to all of you, especially Matthew. The financial stress started affecting my health and my life. I could not sleep or focus at work. Now Access Mortgage has given me control on my life by connecting me to a great lender. I have gone from being full of stress to being stress-free.

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    Thank you for all the help that you gave me, most patiently and with deep understanding. I was very comfortable asking you everything and anything. Your team did great job in making me understand the financial side. I have learnt a lot. Thanks to Matthew for taking time to come to my place. He not only did his work, but for a short time, took me back to most nostalgic memories of my life, before I came to Canada. I am also grateful to the lawyer for coming to my place to meet with me, and quickly closing the mortgage and releasing the funds.

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    I can’t say enough how great your company has been. Matthew, thank you so much for making all of this process so easy for us. Our bank would not help us and you were amazing. Your company kept us informed every step of the way, and not once were we made to feel inferior like our bank did. The lawyers you set us up with were also awesome. I will highly recommend your company to anyone looking for mortgages. Thank you so much for getting creditors off our back and setting us on the right track. You guys are all amazing. I’m also so impressed that you came to us do to everything.

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  • “Best mortgage team I’ve worked with!”
    Matthew and his team are the best mortgage team I have ever worked with. They are extremely hard working and bend over backwards to get the job done no matter how complicated or difficult. If there is a way – they will find it. And it will be in your favour. Matthew goes out of his way to set you on a path of success. This is our second mortgage process we have gone through with Matthew, and we are in a better position now than we were the 1st time – all due to Matthews efforts and guidance. After following his recommendations and guidance over the next year we will use Matthew again for our next mortgage and be in an even better position then. If you need a mortgage done, no matter how complicated, call Matthew. He’ll make it happen.

    C.H. - ST. CATHARINES, ON
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    Access Mortgage was extremely fast and explained everything well. We were very happy with their professional service and honesty. I would definitely refer them.

    LISA - BRANTFORD, ON
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