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Debt Services Coquitlam/Port Moody

Allan Marshall & Associates, Inc. Licensed Insolvency Trustee Office in Port Moody, BC

How to Get Out of Debt in Port Moody, BC

220 Brew St Suite 301
Port Moody, BC
Monday – Saturday, 9am – 9pm
Sunday: Closed
By appointment only
Phones are answered Mon-Sat to book both in-person & telephone appointments:
1-888-371-8900  Toll Free
Located next to Evergreen Lines new SkyTrain station and the West Coast Express Train.

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Book a risk-free 30-minute call with one of our experts to discuss your needs.

Debt Services Coquitlam/Port Moody

If you’re stuck in a spiral of debt and don’t know what to do, a Licensed Insolvency Trustee (LIT) can help. Licensed Insolvency Trustees are debt professionals. They can explain all of the debt services in Coquitlam – Port Moody and recommend the right choice for your situation. You don’t have to try and navigate your debt alone. 

Do You Need Debt Help?

If you find yourself in significant debt, you might think personal Bankruptcy is your only choice. While Bankruptcy can be an effective debt relief solution, it often isn’t your only option. 

The LITs at Allan Marshall & Associates have the experience and knowledge to guide you through the various debt help options. An LIT is also the only professional in Canada authorized to administer federal debt relief solutions, including Consumer Proposals and personal Bankruptcy proceedings. 

Coquitlam/Port Moody Debt Relief

When you meet with an LIT, they will assess your financial situation, consider the debt solutions you qualify for, and help you make an informed decision. Some of the debt services include: 

Credit Counselling

In a credit counselling session, your LIT will work with you to understand the root of your debt problems. They will provide education and tools to help you form positive financial habits so you can try to stay out of debt in the future. 

Your LIT will tailor the content of the credit counselling sessions to meet your specific needs. For instance, if you need help with money management, they may teach you how to create a budget and use it to get out of debt. If you struggle with credit card debt, they can provide tips for how to properly manage your credit. 

Consumer Proposal

In a Consumer Proposal, you work with your LIT to create a proposal to your creditors to pay a percentage of your debt, extend the time you have to pay, or both. 

A Consumer Proposal is a legal process that is administered by a Licensed Insolvency Trustee. Once your LIT files your Proposal with the Office of the Superintendent of Bankruptcy (OSB), you can stop making payments directly to your creditors. Any wage garnishment, creditor lawsuits or collection calls will stop.   

Personal Bankruptcy

While personal Bankruptcy is often considered a last resort, it is designed to provide Canadians who are down on their luck with a second chance. When you are discharged from Bankruptcy, you are released from the obligation to pay many of your unsecured debts. This can provide a considerable amount of relief and give you the opportunity to regain your financial footing.

Many people also worry about filing for Bankruptcy because they think they will lose everything. While it’s true you will have to sell some of your assets, there are exclusions to what can be sold. Similar to a Consumer Proposal, an LIT is the only professional who can administer a Bankruptcy proceeding. 

Why Work With a Licensed Insolvency Trustee in Coquitlam?

Dealing with debt can be incredibly stressful. It can feel isolating, and embarrassing, and can take a toll on your relationships. An LIT can act as an informed support system, guiding you every step of the way on your journey to debt relief. 

If you are considering a more formal debt solution like Bankruptcy or a Consumer Proposal, an LIT is the only professional that can administer these proceedings. 

LITs are also regulated by the Office of the Superintendent of Bankruptcy (OSB). This means you never have to worry about an LIT overcharging because all of the fees are outlined by the federal government. Plus, your first consultation with an LIT is completely free. 

Learn More About Debt Solutions in Coquitlam and Port Moody

Debt Services Coquitlam/Port Moody

At Allan Marshall & Associates we have helped thousands of Canadians like you work through their debt issues and find relief. If you’re struggling to pay your bills, we recommend that you don’t wait to get help. If you need financial aid in Coquitlam or Port Moody, reach out today to learn more about your options. Give us a call at 1-888-371-8900 or contact us online to book a free, no-obligation consultation. 

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