The first step to getting a fresh start is taking control of your personal finances. There is nothing worse than having your bank freeze your account, taking money from your account without your permission or having your pay cheque constantly be applied to overdraft. To avoid these problems and take control of your personal finances we recommend opening a new bank account at a bank where you don’t owe any money. Regardless of whether you are considering filing personal bankruptcy, making a consumer proposal or attempting to dig yourself out of debt on your own opening a new bank account at a bank where they don’t owe any money is an essential first step to helping you get a fresh start. This is because:
- Since the new bank is not a creditor they will not receive copies of your consumer proposal or personal bankruptcy documents and therefore if you file it will not affect the way the bank treats you
- You will have the ability to develop a new banking relationship
- The new bank will not freeze your account or apply your future deposits toward outstanding accounts or overdraft since you don’t owe them any money
-Chris Welker
