Bankruptcy in Guelph: The Ted Michalos Bankruptcy Guelph Blog

Bankruptcy as a fresh start

Someone once asked me why I chose to become licensed trustee in bankruptcy. I can understand their confusion – on the surface, bankruptcy may not seem like the most uplifting of situations. People in financial difficulty may be experiencing anxiety, fear, and embarrassment. They may have recently lost their job, gone through a separation or divorce, or they may simply have difficulty with their money management. Unfortunately, bankruptcies have become a part of our modern life.

Of course, I don`t see my job that way. I look at it as a chance to give people who have had a run of bad luck, a fresh start on their financial lives. I draw on the fact that every person I meet has been changed in some way because of my help.

When I was explaining this philosophy to someone, they asked me, surprised, how a bankruptcy can be a fresh start. And I’m sure some of you may not be thinking of bankruptcy in those terms, but to me, that’s exactly what it is.

Bankruptcy essentially wipes your slate clean – your unsecured debts are forgiven. You don’t have to repay the thousands of dollars that you owe and you won’t be barraged by creditor phone calls or wage garnishments. You’ll get a fresh start.

The same is true for your credit history. When you declare bankruptcy, essentially your credit is supposed to be reset. Both the good and the bad are removed from your credit history and you get to start over.

So when people ask me why I got into this career I tell them that I like “enabling the financial future of people.” That’s a fancy way of saying, “I like helping people get a fresh start.”

If you want a fresh start or are considering bankruptcy, call me at 310-PLAN for a free consultation. You can also email me any questions you might have. I would be pleased to help you get started on your financial future.

Posted in Bankruptcy Guelph    Add a comment

Leave a Reply

You must be logged in to post a comment.