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Experience Your Life Without Debt

Find Hope with Our Bankruptcy Company

Stop Legal Action from Creditors
Eliminate Your Overwhelming Debt
Protect Your Important Assets
Quick & Reliable Solutions
Get Your Life Back on Track

Bankruptcy is a Fresh Start

Don’t let the fear of bankruptcy ruin your life. With Reynolds & Associates by your side, our bankruptcy company offers immediate solutions that get your finances and future back on track – without opting for bankruptcy as your first choice. Consumer debt proposals, debt management, debt settlements, or consolidation can be viable options to avoid filing for bankruptcy. If filing for bankruptcy is necessary, we can advise you on the proper steps so we can stop legal action from creditors, eliminate your debt and protect your assets.

A Debt-Free Life is Only a Phone Call Away
Phone Us & Book Your Free Consultation
If you live in Sudbury, North Bay, Espanola or Sault Ste. Marie, call us for a free consultation and assessment.
Phone Us & Book Your Free Consultation
Meet Our Trustees
As Licensed Insolvency Trustees (LIT), we will provide all the necessary information and advice you require to file for bankruptcy.
Meet Our Trustees
We’ll Prepare Bankruptcy Documents
Our team will ask for some basic information. We’ll prepare the official forms required by the government with these details.
We’ll Prepare Bankruptcy Documents
We’ll Stop Legal Actions From Creditors
Once the documents are filed, creditors will stop taking legal action against you. We’ll contact your creditors to notify them of the bankruptcy.
We’ll Stop Legal Actions From Creditors
Protect Your Wage From Garnishment
At this point, we’ll stop creditors who are seizing your wages. We'll also make sure debt collectors stop calling.
Protect Your Wage From Garnishment
Start Mandatory Credit Counselling
The Bankruptcy and Insolvency Act of Canada states that you must attend mandatory counselling to learn about balancing your budget and setting financial goals.
Start Mandatory Credit Counselling
It’s Time to Experience a Debt-Free Life

Reynolds & Associates vs Other Bankruptcy Companies

Bankruptcy is not as debilitating as many believe. At Reynolds & Associates, we see it as a positive and a fresh start. We use our experience and technical knowledge to assess your finances and manage your situation so you fully understand bankruptcy and whether or not it works for you, giving you our honest opinion about how to move forward. It’s this transparent and dedicated approach that makes people choose us over other bankruptcy companies. We will help you get through this difficult time and onto a better future.

Confidential

Reynolds & Associates are certified Licensed Insolvency Trustees (LIT), guaranteeing that everything we do in the process of your bankruptcy is legitimate and backed by the federal government of Canada. Our licensed team follows Canadian regulations and will work tirelessly to provide you with expert advice and information.

Protection from Legal Action

As bankruptcy is a legal process, unsecured creditors must accept the situation. The Certificate of Appointment document, which confirms your bankruptcy is official, leads to an automatic “Stay of Proceedings” that prohibits them from taking legal action against you, such as court cases or freezing bank accounts.

The Right Solution for You

Bankruptcy is not the only answer to your problems. Before we consider it as an option, we’ll explain all the other options that are available to you. We offer consumer proposals, debt settlements and debt counselling to help solve debt problems, as well as bankruptcy. An informed person makes good decisions.

Free Assessment & Financial Advice

You’ll receive a free assessment and analysis of your financial situation to determine if bankruptcy is the best course of action, before taking the right step towards your successful financial future.
Sudbury
Sudbury
North Bay
North Bay
Espanola
Espanola
Sault Ste. Marie
Sault Ste. Marie
Testimonials
FAQs

What is bankruptcy?

According to Canada’s Bankruptcy and Insolvency Act, bankruptcy is a legal procedure “whereby debtors who cannot meet their obligations sign over all of their assets—except those exempt by law—to a Licensed Insolvency Trustee (LIT). The LIT's role includes selling off those assets to satisfy outstanding debts.”

What can I keep if I go bankrupt?

According to Ontario’s Execution Act (as of 2021), you can keep the following when you file for bankruptcy: clothing for yourself and your family; household furnishing (up to $15k in value); the tools used to earn your living (up to $15k in value); your home, if its equity does not exceed $10k and any medical aids or devices for you and your family. It’s important to discuss this option with our team.

How long will my bankruptcy last?

It depends on several factors, mainly how much income you make post-claim. In most cases, the first time you claim bankruptcy (you can claim bankruptcy more than once), it will usually last between 9 to 21 months or until you fulfill your duties. The second term lasts for 24 or 36 months, depending on your surplus income.

What happens to my credit rating after bankruptcy?

Your credit score will take a significant hit if you file bankruptcy. In some cases, it will drop to the lowest possible score, and debts will have a rating of “R9". A bankruptcy can stay on your credit report for 6 years from discharge.