Let Us Help You Get Out of Debt

We Can help you find the Debt Management
Solution Best Suited for You

Once you've decided to meet with us, we will explore options which will lead to a solution to your financial problem and help you get out of debt. Here are a few informal debt management avenues we'll explore first:

Negotiate: Creditors may be willing to accept smaller payments or re-negotiate loans/interest rates.

Liquidate: Perhaps there is equity in your house that you never considered using to pay creditors or items that could be sold to pay down your debts.

Consolidate: You may be paying as much as 18 to 35% interest on certain debts. You may be able to consolidate these debts into a lower interest-bearing loan, thereby reducing your monthly loan payments and helping with your debt management.

If none of these options are feasible to help you get out of debt, we'll explore your legal options, such as:

Consumer Proposal: Under the Canadian Bankruptcy and Insolvency Act, you may make a proposal or compromise to your creditors. Your offer may be to compromise the total amount you owe your creditors or extend the time you have to pay your debts in full. Instead of monthly payments to your creditors, you could also offer to cash certain assets to pay a portion or all of the debts. A Trustee in Bankruptcy will assist you in making a fair offer to your creditors. The filing of the consumer proposal stops unwanted calls from creditors, stops your wages from being garnished, and allows you time to make arrangements to pay your creditors what you can afford.

Consumer Bankruptcy: Under the Canadian Bankruptcy and Insolvency Act, a reasonable and honest individual is given the chance to be released of his/her debts by declaring bankruptcy. At the end of a short period of time, if you perform certain duties required of you by law, your debts will be discharged or wiped out.

The bankruptcy gives you protection against phone calls from your creditors; wages will no longer be garnished; and your utilities will not be cut off. Generally, you are allowed to keep basic furniture and your personal effects when you go bankrupt, and under certain circumstances you may even be allowed to keep your car; your house/mobile, RRSP's and life insurance policy.

There are a variety of strategies to help you get out of debt. We have over 20 years combined experience as trustees in bankruptcy assisting people in Halifax, Dartmouth, Sackville, Kentville and rural Nova Scotia make the right decision for their situation.

For complete information on how these solutions can help you with debt management, a personal interview or discussion with a Trustee in Bankruptcy is necessary.

We have, however, answered some of the most common debt management questions on Consumer Bankruptcies and Consumer Proposals in 20 Questions Answered.