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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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Who Files My Tax Returns During Bankruptcy?

When you file an assignment in bankruptcy, you are dealing with your debts as of that date. Debts owing as of the date of bankruptcy, including tax debts, are included in your bankruptcy. Similarly assets you own as of the date of filing are to be realized on by the trustee. Those assets include any income tax refund(s) in the year you file for bankruptcy. Practically, this has an impact on how your income tax returns are filed when you claim bankruptcy. While every trustee has their own policies, the following is a common approach. Why Two Tax Returns in…

The Cost of a University Education: A Scarborough Bankruptcy Story

cost-of-university-bankruptcy-story

The cost of a university education is very expensive these days but the cost may be even more than people imagine. Often students have a difficult time finding a career that allows them to address their loans when they first start working. But other than the students, the cost of a university education can be felt by other members of the household. I met with John and Irene (not their real names) in my bankruptcy office in Scarborough at the beginning of the summer. Between them, they had ten credit cards that had reached the maximum credit and the collection…

Prepare Your Child For Student Loan Debt

prepare-for-student-debt

Back to school advertising seems to start the day after the kids get off of school, but no matter when it starts, the reality is that the cost of education today can be quite high. Clothes, supplies and technology are all needed to setup the returning student for success. If that student is heading off for post-secondary schooling at college or university, the demands are going to be large – and often unexpected.  Items such as tablets and laptops that used to be “nice to haves“, are now expected, and in many cases, are required resources for students.  This piles additional…

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…