Personal Debt Solutions Canada - Frequently Asked Questions

Get Started Today!

Our Bankruptcy Trustees are here to help!

Questions?

Also be sure to check out our FAQ Pages

Debt Calculator

Compare Your Debt Repayment Options

Explore PDSC by Topic

PDSC Testimonials
Read More >>>

"I never realized how easy everything could be"
~Ashley - Oak Bay


"I now feel that I can answer the phone and open my mail without being concerned with who was on the other end looking for money. "
~Ginger - Victoria


"I should have come to see you years ago. "
~Michael - Colwood


Corporate and Small Business Bankruptcy and Insolvency Issues

Return to FAQ Categories

Many times personal insolvency issues can result from business failure of a limited corporation or a sole proprietorship or partnership. Understanding your obligations under each situation is necessary to understanding which debt repayment option will work best in each unique situation.

I am self-employed and I am using my personal credit line to keep up with payments to creditors for my business debt. I do not want to go bankrupt or close my business. What can I do?Answer

I thought my bookkeeper was taking care of both my personal and business expenses. I found out that bills from the business suppliers are past due, and that the credit cards and line of credit are now maxed out. I need to get back on track or my suppliers won’t deal with me anymore, which will basically stop me from earning an income.Answer

My business isn’t making as much money as I had expected, and I have had to use my personal credit to cover expenses, like wages and supply costs. My personal debt seems to be growing faster than my business can pay me. What can I do?Answer

My spouse is considering opening a new business. We have a joint line of credit. Can we use this line of credit for the business operations?Answer

2013-11-26 22:54:40

Consumer Proposals Continue to Rise in Popularity

Read more

2014-02-14 00:01:50

Consumer Proposal Victoria - Is this an Option for You

Read more

2014-05-28 16:46:32

Credit Counsellor vs. Trustee in Bankruptcy

Read more

2014-06-11 16:12:40

What happens if I can't make my Proposal payments?

Read more

2014-06-17 20:03:06

How likely is it that my consumer proposal will be accepted?

Read more

2014-07-21 21:27:27

Consumer Proposal Rejections and RBC

Read more

2014-08-11 16:24:32

Bankruptcy Trustees: Your Questions Answered

Read more

2014-08-18 16:48:08

What Happens if You Default on Your Consumer Proposal?

Read more

2014-08-25 16:14:53

Consumer Proposal v. Bankruptcy

Read more

2015-09-23 19:25:25

What is a Consumer Proposal?

Read more