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What is an insolvency problem?

Being insolvent means you find it hard to meet your financial obligations and reimburse the debts you have incurred. It also means you don’t have enough money to meet your primary needs such as housing and food. But there are different levels of insolvency. For more detailed information, please consult a professional so that your insolvency level can be evaluated.

Insolvency is a common problem

Each year, many consumers reach a level of debts that pushes them towards insolvency. Their quality of life diminishes, as does their purchasing power. To improve the situation and get out of excessive debt, the first step is to recognize there is a problem. Ignoring the situation is not conducive to end insolvency. In fact, doing so makes solutions harder to find and can worsen the situation.

What are the signs of insolvency?


Even if life is hectic, it is important to take the time to analyze your financial situation and avoid insolvency problems. The following 13 issues are early-warning signs of financial troubles, which will allow you to take an objective look at your situation. If you have an insolvency problem, we want you to know that our professionals can help you return to financial health.

  • You’re falling behind on your payments.
  • You often receive calls from collection agencies.
  • You’re only paying the minimum required on your credit cards.
  • You have received a visit from a bailiff.
  • You use your credit cards to pay off other debts.
  • You avoid keeping a budget because it’s always in deficit.
  • You use credit to meet your basic needs (rent, food, medication).
  • You don’t know how to make and maintain a balanced budget.
  • You’re concerned about your debt.
  • You’re facing wage garnishment.
  • You want to get out of debt.
  • You have little or no savings.
  • You’re being harassed by your creditors.

Common questions about

If you have identified one or more of the early-warning signs, it is advisable idea to meet with a Ginsberg Gingras professional. He or she will explain the ways you can get rid of your debt problem. Our professionals take the time to answer your questions and suggest customized solutions as needed. These meetings are always private and the first consultation is free and without any obligation on your part.

Ginsberg Gingras licensed insolvency trustees (LIT) are experts in all aspects of bankruptcy. They also know about solutions that allow you to avoid declaring bankruptcy. Thanks to their advice, many people have been able to solve their debt problems using other means.

To avoid bankruptcy, it is advisable to meet one of our trustees as soon as the first signs of financial difficulty arise. More solutions to your insolvency problem will be available—and they will be less restrictive. As many people have discovered, you can regain your financial health and no longer be insolvent.

Let our LITs and our administrators recommend the best solution for your financial problems.


Simply fill in the appointment form for a quick, free consultation. Discretion assured.


The solution to your financial problems is just one step away

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