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✍The sooner you accept your financial struggles, the sooner you can begin your bankruptcy claim. If you have been wondering whether or not you should file for bankruptcy, here are a few signs that you might need to consider,

▪️Your credit cards are always at your limit;
▪️You are paying bills with your credit cards or cash advances;
▪️You continually fail to make one or more important payment each month;
▪️You have received letters threatening legal action against you in order to collect money owed;
▪️Loss of income in the household means there is no money to pay debts;
▪️You are making the payments but the debt isn’t going anywhere and it’s too much to maintain;
▪️You are credit reliant-the cost of the debt is to high there is no money left for everyday expenses so you need use your credit cards to buy gas and groceries;
▪️You are overwhelmed and stressed out about your finances about your finances and it’s affecting your sleep and personal wellness;and,
▪️You have reached the borrowing limit and your back will not provide you any further financial assistance.

If any of those apply to your current debt situation, declaring personal bankruptcy may be the right choice to make.

Every bankruptcy is unique but there are similarities that are good indicators you need to seek personal bankruptcy help.

✍What is Canada Workers Benefit?
The Canada Workers Benefit (CWB) is a refundable tax credit to help individuals and families who are working and earning a low income.
You can claim the CWB when you file your income tax return.
Who can apply for the CWB?
Workers who are single and without children will be eligible for a tax refund or lup to almost $1,400, while workers with families will be able to get up to $2,400.
The Government of Canada describes it as a ‘sizeable’ tax refund that previously left many low-wage workers out.
What is the eligibility criteria?
The benefit is available to those with income us to:
$32,244 as single Canadians (without Children)
$42,197 as single-earner families.
$56,197 as double -earner families.
Secondary earners in couples are also now able to exclude up to $14,000 of their working income when calculating the benefit ‘allowing them to access a more generous tax refund.

✍Not, forever, fortunately. Bankruptcy is a legal process which is intended to provide a new financial start.
Your bankruptcy ends when you receive a discharge, the event that actually cancels your debts.
First time bankrupts who have little income are eligible for discharge after nine months.
If you have high income you will be in bankruptcy for 21 months.

✍Yes, you have to wait to get out of your bankruptcy and then you can apply for a mortgage. You will go through the same process as someone who hasn’t filed. You will need to provide employment info, banking info, have a downpayment ...etc.