Bankruptcy

Rusinek & Associates Inc, Licensed Insolvency Trustee

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How do I file personal bankruptcy? – You cannot file on your own or use the services of a lawyer to file personal bankruptcy. Only a licensed insolvency trustee such as Rusinek & Associates Inc can prepare the paperwork for you to file a personal bankruptcy. The first step begins with a free consultation to review your options.
How long does it take to file bankruptcy? – After our meeting, we can have your paperwork prepared on an urgent basis and filed with the government electronically to bring immediate relief from legal action.
How long does bankruptcy last? – in an automatic discharge, you remain in bankruptcy for 9 months (if income is low) or 24 months (if you have filed once previously). If income is high, then the duration is extended by 12 months.
Can I continue in business if I file bankruptcy? – yes, if self employed.
Will I lose my home or other property in a bankruptcy? – some assets are lost in bankruptcy, others may not be. In some cases, you can “settle” with the estate to keep assets such as a home or investments.
Will my employer know about the bankruptcy? – we do not inform your employer unless we have to stop a garnishment action.
How long will my credit be affected in a bankruptcy? – 6-7 years from your discharge after a first bankruptcy. 14 years after a second bankruptcy. But there are ways to rebuild credit well before the bankruptcy drops from the credit reports.

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