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Bankruptcy Kitchener

Bankruptcy Kitchener

Are you suffering with a mountain of unsecured debt? Have you tried other methods of debt relief, but they are not working because you simply just owe way to much to creditors and lenders? Are you considering filing for bankruptcy in Kitchener so that you can get a fresh financial start? Well if so, Access Mortgage is here to tell you, THERE IS ANOTHER WAY! Do not file for bankruptcy until you have talked to the professional team at Access Mortgage today. Declaring bankruptcy can severely damage your credit for up to 7 years! If you are considering this form of debt relief, we encourage you to get in touch with us at Access Mortgage. Read on for more information about bankruptcy in Kitchener, and how Access Mortgage can help you avoid it.

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

What are the effects of filing for bankruptcy in Kitchener?

Bankruptcy has implications, both good and bad. If you are thinking of going this route for debt relief, here are some of the major effects of filing for bankruptcy that you should know:

Will be noted on your credit report:

Equifax, the largest credit reporting agency in Canada, will put a note on your credit reporting stating that you filed bankruptcy, and that note will remain on your credit report for six years from the date you are discharged from a first bankruptcy. A second bankruptcy remains on your credit report for 14 years.

You will have certain duties and payments:

During your bankruptcy in Canada you are required to perform certain bankruptcy duties, including reporting your income to your trustee each month.  If your earnings go above the level set by the government, you are required to pay more. This is called surplus income. So, one of the effects of filing bankruptcy is that if you have high income, your bankruptcy may be expensive.

What are some better options instead of filing for bankruptcy in Kitchener?

At Access Mortgage, we take great pride in being able to help our clients get on the path of financial freedom. Nobody wants to be in a mountain if debt that feels like there is a dark shadow following them wherever they go. Debt consolidation and refinancing are just a few of the methods that we preach to our clients, so that they can become debt free without damaging their credit for a long time. How do these two strategies work? Let’s take a look:

Debt Consolidation:

Debt consolidation loans involve combining several high-interest loans or debts into a single debt with a lower interest rate. A debt consolidation program works to simplify life for the consumer by replacing a number of bills with one lower monthly payment. For example, a consumer with four credit card bills can get a debt consolidation loan to pay off the credit cards, resulting in one payment, rather than four.

Refinancing:

Refinancing with Access Mortgage involves combining all your debt into one single new mortgage. We do this because the interest rate and the payment is the lowest it can be with a secured loan, such as a mortgage. Refinancing has the potential to do things like: remove your interest with high interest, reduce your payments, and improve your credit score.

Don’t risk damaging your credit for many years because you filed for bankruptcy in Kitchener, consumer proposal, or credit counselling. Let Access Mortgage help you get on the path of debt relief by using strategies like a refinance, or debt consolidation. For more information about how you can avoid bankruptcy in Kitchener and still become debt free, please feel free to continue browsing through our 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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    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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