{"id":5419,"date":"2019-05-16T10:34:52","date_gmt":"2019-05-16T14:34:52","guid":{"rendered":"http:\/\/caissealliance.absoludev.ca\/?p=5419"},"modified":"2019-05-16T10:34:52","modified_gmt":"2019-05-16T14:34:52","slug":"bankruptcy","status":"publish","type":"post","link":"https:\/\/www.caissealliance.com\/en\/personal\/loans-and-debts\/bankruptcy\/","title":{"rendered":"Bankruptcy"},"content":{"rendered":"<div id=\"mastercardhead\">\n<p>Bankruptcy should only be considered as a last resort if you can no longer meet your financial obligations. It\u2019s a serious decision with serious consequences. When someone declares bankruptcy, all their assets, except those the law allows them to keep, are turned over to a trustee. The trustee sells the assets and uses the proceeds to pay off creditors.<\/p>\n<\/div>\n<div id=\"bodyinfo\">\n<h2>Repercussions of bankruptcy<\/h2>\n<ul type=\"disc\">\n<li>Some debts are immediately cancelled out, such as credit card debt.<\/li>\n<li>Other debts are not affected, such as alimony and child support, taxes, etc.<\/li>\n<li>As a result, borrowing could cost you more.<\/li>\n<li>The bankruptcy may remain on your credit report for several years.<\/li>\n<\/ul>\n<h2>Bankruptcy warning signs<\/h2>\n<h3>How to tell if you are headed for bankruptcy<\/h3>\n<ul type=\"disc\">\n<li>You don\u2019t have a budget.<\/li>\n<li>You have no control over your spending.<\/li>\n<li>You have no financial cushion (emergency fund).<\/li>\n<li>You\u2019ve purchased a home above your means.<\/li>\n<li>You\u2019ve purchased a car above your means.<\/li>\n<li>You use credit cards indiscriminately.<\/li>\n<\/ul>\n<p>If you recognize yourself in these warning signs, it\u2019s time to start turning things around.<\/p>\n<\/div>\n<h3>Did you know?<\/h3>\n<p>Your Caisse populaire makes available to you a section on personal finance called\u00a0<a href=\"https:\/\/www.caissealliance.com\/fr\/particulier\/budget-et-finances-personnelles\/gerez-vos-finances-au-quotidien\/\" target=\"_blank\" rel=\"noopener\">Manage your daily finances<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bankruptcy should only be considered as a last resort if you can no longer meet your financial obligations. It\u2019s a serious decision with serious consequences. When someone declares bankruptcy, all their assets, except those the law allows them to keep, are turned over to a trustee. The trustee sells the assets and uses the proceeds [&#8230;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[108],"tags":[],"class_list":["post-5419","post","type-post","status-publish","format-standard","hentry","category-loans-and-debts"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Bankruptcy | Caisse Alliance<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.caissealliance.com\/en\/personal\/loans-and-debts\/bankruptcy\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Bankruptcy | Caisse Alliance\" \/>\n<meta property=\"og:description\" content=\"Bankruptcy should only be considered as a last resort if you can no longer meet your financial obligations. 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