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Consumer Proposal & Bankruptcy Toronto Advice

Bankruptcy in Toronto

If you need help eliminating your debt, our Licensed Insolvency 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 Licensed Insolvency 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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Is it Time to Consolidate Your Debts?

consolidate your debts

Do you want to consolidate your debts? Perhaps the better question is do you need to consolidate your debts? Why Consolidate Your Debts? There are three main reasons why people choose debt consolidation: To consolidate several debt payments into one single amount. Often when people have numerous debts, whether it is a number of credit cards or a number of payday loans, they lose track of exactly how much debt they have and when to make their payments. To arrange for a lower monthly payment than you were paying before. This can mean the difference between affordable debt payments and…

Six Ways To Prepare For Filing Bankruptcy

bankruptcy pay off debt

Making the decision to file for personal bankruptcy can be a stressful one. Often when I meet with someone in financial distress they tell me they are losing sleep, it’s affecting their personal relationships and they just don’t know how they’re ever going to get out from under their debt. My advice is to think of personal bankruptcy as your opportunity for a fresh start. Your trustee is going to guide you through the process, but the following are some tips to keep in mind to help make the whole process less stressful for you: 1. Make a list of…

Separation Agreement Will Not Protect You From Debt Obligations


Marital breakups can be difficult for any family. It causes a flurry of emotions, decisions, and unforeseen consequences – especially when it comes to your personal finances. If you had joint accounts throughout your marriage, you’re in a particularly vulnerable position, even with a separation agreement. What is Joint Debt? Joint debt is any type of loan that you are both liable for. Even though there are two people assigned to the type of credit, that doesn’t mean you’re only responsible to pay half. If you pay half, but your spouse (or in this case, ex-spouse) refuses to pay, the…

I’m Getting A Raise. Can I Increase My Consumer Proposal Payments?


There are many advantages to using a consumer proposal to deal with your debts. You are able to pay back whatever you can over a set period of time (but no longer than five years). A consumer proposal is a legal contract with your creditors. They vote on the offer you make and have 45 days to consider it and provide you with an answer. If the majority of your creditors agree, then it is a legally binding contract. This means that both you and your creditors are to uphold that agreement. If your income goes up, your contract does…

Tax Tips to Ease The Bankruptcy Process

It’s important to understand the entire effects of bankruptcy before you file. You should know that your tax season will be different for the year of your bankruptcy. You’ll need to provide detailed information to ensure you don’t end up with a large amount of tax debt upon discharge. Before Bankruptcy Proper Paperwork Ensure all tax filings are complete and sent to revenue Canada. If returns are not filed, Revenue Canada will do an arbitrary assessment based on the information they have available. This means you could end up owing more tax than you would have if you had  just…