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Consumer Proposal & Bankruptcy Toronto Advice

Bankruptcy in Toronto

If you need help eliminating your debt, our Toronto Bankruptcy Trustees can help. As licensed debt experts we will explain about consumer proposals, bankruptcy and bankruptcy alternatives in Toronto. We can help you:

  • eliminate credit card debt
  • stop collection calls and garnishments
  • get debt relief

Research Your Options

The number one reason to talk to a Bankruptcy Trustee if you are having debt problems is to get advice.

You don't have to call just to file bankruptcy -- we are here to help answer your questions and help you find a solution that works.

  • Consumer Proposals

    Settle your debts, keep your assets and avoid bankruptcy by filing a legal consumer proposal. As licensed consumer proposal administrators we can help you negotiate a agreement with your creditors for less than you owe. Learn more about Toronto's #1 alternative to bankruptcy.

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  • Credit Counselling

    If your debts are out of control, our licensed debt counsellors can help you take back control. They will meet with you to assess your situation and will explain all of your debt relief options. They can help you compare a Debt Management Plan with a Consumer Proposal and help you develop a plan to deal with your financial problems so you can get back on track.

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  • Debt Consolidation

    Are you tired of balancing too many debts and struggling and looking for ways to consolidate your debts into one, lower monthly payment? Our debt experts can help you compare your debt consolidation options. If you do not qualify for a debt consolidation loan, we can still help you develop a plan to consolidate your debts through other debt consolidation alternatives.

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  • Bankruptcy Services

    While bankruptcy is a last resort, it can sometimes be the best solution. Bankruptcy can provide immediate relief from debts and a fresh start. We will meet with you to review your situation at your FREE initial consultation and answer any questions you have about bankruptcy and how to file for bankruptcy in Toronto.

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How Are My Debts Treated In A Bankruptcy In Toronto?

Toronto Bankruptcy

Personal bankruptcy is a way to eliminate your debts and gain a fresh financial start. However, there are certain types of debts that you do not get relief from in a bankruptcy, even when the bankruptcy is completed. Here is a summary of how your debts are treated in a bankruptcy (or consumer proposal) in Toronto. Secured debts Secured debts like a mortgage, car loan or secured line of credit are not debts that you get relief from in a bankruptcy. Generally, you can continue to make payments against these loans and retain the assets securing the loan. For example,…

What Happens with Jointly Owned Marital Assets in a Bankruptcy?

Jointly Owned Assets - fb

Some of my clients say they were so worried about how their debts would affect their spouse, they avoided calling a Toronto licensed insolvency trustee. As a result, they struggled with debt for years, believing that they couldn’t address it without affecting their loved ones. But in most cases, that’s not true; your spouse is not responsible for your debt just because you are married. The only way someone can become responsible to pay another person’s debt, is if they specifically agree to do so: either through a formal co-signing agreement, the money was loaned jointly, or through a credit card…

How Does Personal Bankruptcy Work in Toronto?

bankruptcy question

Filing bankruptcy starts with talking to a Licensed Insolvency Trustee. Our infographic explains what happens when you file for bankruptcy in Toronto. Our Toronto trustees are happy to answer any other questions you may have about the process at your free consultation.

How Does a Licensed Insolvency Trustee Sell Assets in a Bankruptcy

sell assets bankruptcy

Many people who are in financial difficulties worry about contacting a licensed insolvency trustee (a bankruptcy trustee is now called a licensed insolvency trustee in Canada) because they don’t want to lose their assets.  People assume that the trustee will sell everything they own, so they don’t even really want to talk to a trustee. This is really unfortunate, as it results in many people continuing to struggle with debt or turning to an unlicensed debt consultant which often costs them more money in the long run. So what exactly does a licensed insolvency trustee do when it comes to…

Collection Agency Is Suing Over Unpaid Debts. What Can You Do?

stop collection call and lawsuit

“Hi, I have collection agencies calling me all the time at home and work and I am not sure who I owe money to or how much. I also need assistance understanding my credit report because there is information on it I don’t understand including a judgement against me. I would appreciate speaking with someone to understand if you can help me with this. Thanks, Betty” “First, yes we can help you Betty. We can stop the creditor calls and a judgement from garnishing your wages. I’d be happy to meet with you to discuss your options, Sandra” This is…