Best for You
Each debt solution
has its own
advantages and
concerns.
Review them all in
detail and talk to
someone who can
address your
SPECIFIC
situation.
Bankruptcy Info Services
Assignment in Bankruptcy!!
Creditor Arrangements!!
Consumer Proposal / Proposal!!
Creditor Counselling Services!!
Debt Consolidation!!
Orderly Payment of Debts!!
Contact creditors and suggest lowering your monthly payments and/or interest rate. Explain why you can't make your agreed to payments.
Contact a local family or community counselling office or association to get assistance in making and following a budget or spending plan. Some private creditor counselling services can make consolidated payment arrangements with creditors.
With the assistance of a proposal administrator, you can offer to pay your creditors a fixed amount (less than what you owe) over a period of time. If agreed to by your creditors this will extinguish your debts (totally) on the completion of your payments...
Available in Alberta. If you can pay most of your debts off in three years, this program will reduce your interest rate and provide you with court protection from your creditors as long as you make your payment.
Contact a bank or financial institution and determine if they will pay off all of your debts and
allow you to make one payment to them. This will require a discontinuation of buying on
credit until your cash flow improves.
With the assistance of a Trustee in Bankruptcy, you can have most of your unsecure debts discharged on the completion of a set of duties. For most bankrupts the period of bankrutpcy is 21 months (but can range from 9 to 36 months)...
Debt Solution (options)