Conclusion

Many people will experience a financial crisis at some point in their lives. As discussed in this booklet, it is important to recognize the warning signals and weigh the options available to best correct the situation. While declaring bankruptcy enables you to clear most of our debts and start with a "clean slate", it should only be considered where it is not realistic that you can satisfy your debts within a reasonable amount of time without incurring an unreasonable amount of hardship for you and your family.