About this Event
Building a life in Canada can bring opportunity—and financial pressure. Supporting family, adjusting to a new career, running a business, or managing a separation or illness can make debt difficult to manage.
You deserve clear information and a respectful conversation about your options.
I would like to introduce Patricia Giankas of Great Credit Solutions (GCS), who brings more than 48 years of experience in financial services and helps individuals understand their debt options.
Two legal options available in Canada are:
Consumer proposal: A formal arrangement administered by a Licensed Insolvency Trustee to repay an agreed amount to creditors over a maximum of five years. It may reduce eligible unsecured debt and allow you to retain assets, provided you meet the proposal terms and continue required secured payments. Acceptance is subject to the legal approval process.
Bankruptcy: A legal process that can release you from many unsecured debts upon discharge. Payments, timing, and the treatment of assets depend on your circumstances. Some assets are protected, and some debts remain payable.
Both options affect your credit record. The right choice depends on your income, assets, debts, and family needs.
A conversation can help you understand:
- What options exist beyond making minimum payments.
- How a proposal or bankruptcy could affect your home, savings, and budget.
- Which debts may be included.
- What steps can support your financial recovery.
GCS provides education, help organizing your financial information, and connections to a Licensed Insolvency Trustee when appropriate. Formal consumer proposals and bankruptcies are administered by a Licensed Insolvency Trustee.
To connect with Patricia, reply to Svetlana privately and request an introduction. Please avoid sharing account numbers or sensitive financial documents in a group message.
You have worked hard to build your life. Understanding your options is a step toward protecting your future.
Patricia Giankas is a Senior Female in Tech (SFT) and a trailblazing Credit Intelligence Pioneer with more than 48 years of leadership in financial services.
https://mycreditz.com/
Why Is Knowledge About Bankruptcy and Insolvency Important for Immigrants?
Many immigrants arrive in Canada with big dreams, but often face unexpected financial challenges such as underemployment, high living costs, business setbacks, debt, or difficulties understanding the Canadian financial system. Knowing about bankruptcy and insolvency helps individuals make informed decisions and protect their financial future.
Key reasons this knowledge is important:
- Understand Your Rights: Many people do not realize they have legal options when facing overwhelming debt.
- Avoid Financial Scams: Understanding legitimate insolvency solutions helps individuals avoid predatory lenders and debt-relief scams.
- Reduce Stress and Anxiety: Financial difficulties can have a significant impact on mental health, family relationships, and overall well-being.
- Protect Assets and Income: Professional advice can help people understand what assets may be protected and explore alternatives before financial circumstances worsen.
- Support Entrepreneurship: Immigrant entrepreneurs can learn how to manage business debt, recover from setbacks, and start over when necessary.
- Build Financial Literacy: Understanding credit, debt obligations, consumer proposals, and bankruptcy strengthens long-term financial independence.
- Facilitate Successful Settlement: Financial stability is a key component of successful integration and economic participation in Canada.
- Create a Path Forward: Bankruptcy and insolvency laws are designed to provide relief and a fresh start, not punishment.
Powerful IWB-Style Message:
"Financial setbacks do not define your future. Understanding bankruptcy and insolvency empowers immigrants to make informed choices, protect their families, rebuild financial stability, and move forward with confidence. Knowledge turns challenges into opportunities for a fresh start." Patricia Giankas
Event venue & nearby stays
LinkedIn LIVE, TV & Radio, LIVE, Toronto, Canada
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