Latest Mining Bust Hits Labrador Town
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Below is an article from The Telegram about the difficulties being encountered in Wabush and Lab City since the mining industry’s downturn.
Many people are facing mortgages for more than their properties are now worth and no longer have the income they need to stay afloat.
If you are in Lab West, or anywhere in Newfoundland and Labrador, and need advice on how to best deal with your debts, contact Sean today for a free consultation.
Did You Know?
1
Many people who file for bankruptcy get to stay in their home.
2
In Newfoundland and Labrador, you can keep your RRSPs – even if you file for bankruptcy.
3
Many people who file for bankruptcy are able to keep their vehicle.
4
Most bankruptcies are NOT published in the newspaper.
5
Student loans can be included in a bankruptcy if they are more than seven (7) years old.
6
A consumer proposal is an alternative to bankruptcy that can only be filed with a licensed trustee in bankruptcy.
7
In NL, people ages 30 to 39 years old file for bankruptcy more than any other age group. [source]