This morning, I was surprised to receive an email from a friend who migrated to Markham, Ontario, Canada many years ago. Although we have each other's email addresses, we failed to keep in touch. I guess with the slow economy, she has more free time on her hands now and trying to reestablish connection with her old friends. Or perhaps she just wanted to find out if I am still in business!
In her email, Dee told me that many of her associates in Canada had to fold their businesses because they could no longer keep it alive. She asked me if the situation is the same where I am and I have to say that it is, unfortunately.
Dee also told me that some of these friends had to file for Personal Bankruptcy in Canada. It could be a long and confusing process and the decision to take this step forward is a life-changing decision. Sure being a bankrupt would free us from our debts but then we should know what happens if we are declared bankrupt.
A few of my family members are bankrupts and I would say that as a bankrupt, one loses whatever standing one has in society. I think that filing for bankruptcy to free oneself of debt problems should be the last resort.
In her email, Dee told me that many of her associates in Canada had to fold their businesses because they could no longer keep it alive. She asked me if the situation is the same where I am and I have to say that it is, unfortunately.
Dee also told me that some of these friends had to file for Personal Bankruptcy in Canada. It could be a long and confusing process and the decision to take this step forward is a life-changing decision. Sure being a bankrupt would free us from our debts but then we should know what happens if we are declared bankrupt.
A few of my family members are bankrupts and I would say that as a bankrupt, one loses whatever standing one has in society. I think that filing for bankruptcy to free oneself of debt problems should be the last resort.
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