Losing sleep over unpaid bills?
Stressed about ongoing collection calls?
Tired of fighting about money?
Looking for debt help?
We understand, and we can help.
We Can Help With Debt
Dealing with debt is stressful, but you don’t have to tackle it alone. As Licensed Insolvency Trustees (LITs), we can assist you in finding a way out of debt. We will work with you to assess your financial situation and help you develop a customized plan to overcome your debt.
Whether you’re looking to improve your financial literacy through credit counselling or you want to find debt help through a Consumer Proposal or Personal Bankruptcy, we can help.
What Debt Help Options Are Available?
Licensed Insolvency Trustees are the only professionals in Canada authorized to provide the full range of debt help and debt relief options. These include:
Credit Counselling
Through credit counselling, you can improve your financial knowledge and learn new tools to help you manage and reduce your debt.
In a counselling session, you will be coached on general money management, budgeting, and proper credit use.
Depending on your unique financial situation, your LIT might suggest other debt relief solutions, such as a Consumer Proposal or Bankruptcy.
Budgeting
Budgeting is an essential tool for those wanting to take control of their finances. While budgeting can sound intimidating, it’s simply a process of creating a plan for your money.
A Licensed Insolvency Trustee can teach you how to create and maintain a budget that you can use to manage your debt.
Payday Loans
If you’ve taken on a payday loan to make ends meet, you know how difficult it can be to pay back. Due to the extremely high-interest rates and fees, it’s easy to get caught up in a cycle of loans, and it can feel impossible to get out of it.
If you’re struggling to repay a payday loan, you can speak to an LIT to discuss your options to get rid of this high-interest debt.
Debt Consolidation
Debt consolidation is the process of combining multiple debts into one monthly payment. While debt consolidation can’t eliminate your debt, it can simplify the repayment process.
Instead of juggling multiple loans with different interest rates and payment deadlines, you can streamline your debt into one monthly payment.
There are several debt consolidation strategies you can use, including a debt consolidation loan or a balance transfer credit card. An LIT can help you decide if debt consolidation is right for you.
Consumer Proposal
A Consumer Proposal is a legal process that can only be administered by a Licensed Insolvency Trustee. With a proposal, it is possible to eliminate some of your debt while keeping most of your assets.
During the proposal, you and your LIT create an offer to pay your creditors a percentage of what you owe, to extend the time you have to pay your debt, or both. You have a maximum of five years to repay the money.
As soon as your proposal is filed with the Superintendent of Bankruptcy by your trustee, you can stop making payments to your creditors, and any wage garnishment or lawsuits against you will stop.
Personal Bankruptcy
While no one wants to file for Bankruptcy, the purpose is to give individuals down on their luck a second chance.
Personal Bankruptcy is a legal process that can result in the elimination of most of your unsecured debts. Like with a Consumer Proposal, a Licensed Insolvency Trustee is the only professional in Canada that can administer a Bankruptcy proceeding.
Once you are declared Bankrupt, any wage garnishment and creditor lawsuits against you will stop. At this point, you will have to sell many of your assets to pay back some of the money you owe your creditors.
Why Work With a Licensed Insolvency Trustee?
When it comes to debt, we’ve seen it all. We’ve helped thousands of Canadians like you find relief. We understand that dealing with debt can be incredibly challenging and stressful, especially when you don’t know how to move forward. If you want to solve your debt problems, you should reach out to an Insolvency Trustee for the following reasons:
- Authorized to provide the full-range of options. LITs are the only professionals authorized to administer government-regulated insolvency proceedings, including Consumer Proposals and Bankruptcies. If you are in a significant amount of debt, these options might be your best solutions.
- Provide personalized advice. An LIT will take the time to assess your individual financial needs to develop a personalized debt relief plan that meets your specific needs and goals.
- Qualified experts. When dealing with debt, you want to make sure you get financial advice from a qualified professional. LITs have the education, qualifications, and experience necessary to assist with all kinds of debt issues.
- Fees are federally regulated. When you work with an LIT you never have to worry about being overcharged as their fees are regulated by the federal government.
Are You Ready to Ask For Debt Help?
If you are ready to take action and get help with your debt, contact Allan Marshall & Associates today. You can call us at 1-888-371-8900 or fill out our online contact form for a free, no-obligation consultation. By taking this first step, you can start the process of becoming debt free. We Can Help ™
