Allan Marshall & Associates New Brunswick Offices
Allan Marshall & Associates can help you with your debt. We are experienced, knowledgeable Insolvency Trustees who understand the personal issues that can arise from major financial stress. We have been helping New Brunswick residents overcome debt for over 40 years and can guide you on your debt free journey.
Allan Marshall & Associates, Inc. Licensed Insolvency Trustees Bankruptcy and Consumer Proposal Offices
Find a Licensed Insolvency Trustee near you:
Other Service Areas:
We service the following areas from one of our above offices and can offer initial phone or video consultations for your convenience. Look forward to speaking with you.
| Moncton Surrounding Areas | Saint John Surrounding Areas | Fredericton Surrounding Areas | Woodstock Surrounding Areas |
 Riverview | Quispamsis | Oromocto | Perth-Andover |
| Dieppe | Rothesay | Hanwell | Floreceville-Bristol |
| Miramichi | Grand Bay – Westfield | New Maryland | Plaster Rock |
| Shediac | St. Stephen | Minto | Hartland |
| Tantramar (Sackville) | Sussex | Chipman | Centreville |
| Port Elgin | Hampton | McAdam | Bath |
| Memramcook | Grand Manan | Nackawic | |
| Bouctouche | Saint Andrews | Doaktown | |
| Beaurivage | St. George | Gagetown | |
| Cap-Pelé | Campobello Island | Fredericton Junction | |
| Salisbury | Blacks Harbour | Cambridge-Narrows | |
| Neguac | St. Martins | Harvey | |
| Petitcodiac | Stanley | ||
| Richibucto | |||
| Rogersville | |||
| Dorchester | |||
| Rexton |
Phones are answered 9am – 9pm Monday thru Saturday to book both In-Person and Telephone appointments.
| Fredericton | Moncton |
77 Westmorland St., Unit 130 | 505A Saint George St |
| Saint John | Woodstock |
| 555 Somerset Street, Suite 118 1-506-634-7850 | 107 Connell St |
How to Get Out of Debt in New Brunswick
New Brunswick is a wonderful place to call home – plenty of spectacular natural surroundings, tranquil towns, quaint villages, and lush, green forests. But when you’re in debt, even the rolling hills of the farmlands can make you feel as if you’re careening out of control.
Allan Marshall & Associates can help.
Filing for Bankruptcy in New Brunswick
Bankruptcy is a legal process governed by the Bankruptcy and Insolvency Act (BIA) that releases you from most unsecured debts. While no one wants to file for Personal Bankruptcy, sometimes it’s the only way to find relief from your debts and a fresh financial start.
Who Can File For Bankruptcy in New Brunswick?
You can file for Personal Bankruptcy in New Brunswick if:
- You can no longer pay your bills when they’re due
- You have debts over $1,000
- The value of your debts is greater than the value of your assets
How to File for Bankruptcy in New Brunswick
Step 1. Filing for Bankruptcy in New Brunswick starts with a call to a Licensed Insolvency Trustee (LIT). A LIT is the only professional in Canada who can administer a Bankruptcy proceeding.
Step 2. Your LIT will complete the necessary documents and submit them to the Office of the Superintendent of Bankruptcy (OSB). At this time, you are declared Bankrupt.
Step 3. Your LIT will review and sell many of your assets, but you won’t lose everything. There are provincial and federal asset exemptions. Some examples of assets exempt in New Brunswick include:
- Medical aids
- Clothing
- Vehicle (up to $6,500 if required for employment or medical reasons)
- Tools (up to $6,500 for employment)
Step 4. You must attend two financial counselling sessions. The purpose is to help you understand the main causes of your financial issues and to provide tools and knowledge to improve your financial management skills.
Step 5. If your income exceeds what your family requires to maintain a reasonable standard of living, as defined by the OSB, you may have to make surplus income payments. Surplus income is the amount that your net income exceeds the guidelines from the OSB’s monthly income standards.
Step 6. If you fulfill all of the Bankruptcy requirements, you are discharged from Bankruptcy. This means you’re legally released from your debt obligations.
Debts Included in Bankruptcy
Most unsecured debts are cleared in Bankruptcy, including:
- Credit cards
- Lines of credit
- Installment loans
- Payday loans
- Personal loans
- Student loans (if you’ve been out of school for seven years or more)
- Tax debts
Personal Bankruptcy does not eliminate secured debts, such as those for your house or car. If you have a mortgage or car loan, these obligations remain after filing for bankruptcy. Failing to make payments on these debts allows the lender to pursue you for the outstanding balance, potentially resulting in the forced sale of your home or vehicle.
Benefits of Filing for Bankruptcy in New Brunswick
While filing for Bankruptcy can feel humiliating, its purpose is to give honest Canadians who are down on their financial luck a second chance. As soon as you file Bankruptcy, you can take advantage of the following benefits.
- Stop making bill payments directly to your unsecured creditors
- Immediate relief from wage garnishment, creditor lawsuits, and collections calls
- Start working towards a fresh financial future
Alternative Debt Relief Options in New Brunswick
When you speak to a Licensed Insolvency Trustee in New Brunswick they will assess your financial situation and provide all of the debt relief options available to you. Some alternatives to filing for Bankruptcy include:
Credit Counselling
The goal of Credit Counselling is to help you improve your financial knowledge and learn new skills. Depending on your financial issues, you can work with a counsellor to learn how to handle your debt, create a budget, use credit effectively, and improve your overall financial health.
Consumer Proposal
A Consumer Proposal is a formal debt relief option that allows you to reduce the amount of debt you owe to your creditors. Unlike Bankruptcy, you don’t have to sell your assets to pay back your creditors. Instead, you work with a LIT to create an offer to pay a percentage of what you owe, extend the time to pay your debt, or both.
New Brunswick Licensed Insolvency Trustees
We are New Brunswick’s largest independent insolvency firm, offering a wide range of services from Bankruptcy to Consumer Proposals to Debt counselling. The firm started in Saint John in 1979 and now operate four offices including Fredericton, Moncton and Woodstock, to serve you.
As this was my first time seeking financial help regarding my debt, Allan Marshall & Associates were super helpful and answered any questions I had and made sure I had all the information to make an informed decision. Would highly recommend!
~ Natalia, Moncton Client
You can choose to either speak by phone or meet with a Licensed Insolvency Trustee in person at one of our local offices. Either way, you can be assured that you will be supported from start to finish.
Whatever the reason for your financial situation, Allan Marshall Trustees will not only put you at ease, but also work hard to find a personalized solution for you. You’ll learn new financial management skills, and how to help build your savings.
New Brunswick Licensed Insolvency Trustees
Why Choose Allan Marshall & Associates?
It may seem that you’re the only one with money woes. That’s simply not true. It’s a tough economy and personal debt continues to rise. But the best news is that you don’t have to solve this problem by yourself.
Get off on the right foot with Allan Marshall & Associates. The bottom line is, you want to be out of debt. We will listen, assess your situation, and present you with all of your options so that you can make an informed decision.
Free Consultation: Debt Services New Brunswick
Contact us today to speak to a Licensed Insolvency Trustee. We are here to help.
Reach out to one of our offices to learn more about how we can help or call to schedule an appointment at 1-888-371-8900. We’ll arrange a free consultation so you can get the information you need to make the right choice for you and your loved ones.
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