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What causes bankruptcy in Windsor?

 

Posted on Tuesday, December 12, 2006

There are a two main reasons for bankruptcy in Windsor. The first is marital separation or divorce. A family unit has 1 or 2 incomes, and 1 set of expenses. After separating, the 2 spouses each of the same income, however now they both have their own set of expenses. In addition, each might have their own debt, plus joint (in both of their names) debt.

Another factor in Windsor is the reduction of overtime and in many cases layoffs. Employees might have had steady overtime hours 2 or 3 years ago, however, now their hours have been cut back to 40 or less. The debt was probably manageable at 60 hours a week, but now at 40 hours a week, there just isn’t enough paycheque to go around. If this sounds like you, then call me at 519-250-8060 or email me so we can discuss the options that are best for you.
    
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