There are a number of approaches I use in significantly reducing the majority of debt a person has. I usually only need about 10 or 15 minutes with you on the phone and I can quickly identify the best approach in helping you get out of debt.
Your basic options for debt restructuring include
- Consolidation Loan
- Consumer Proposals
- Bankruptcy (where no other process is an alternative)
I will go through these basic options below.
Filing or avoiding bankruptcy
While I specialize in helping clients avoid bankruptcy, I am often sought out to represent people even in bankruptcy situations because more and more people are educated to the fact that a trustee in bankruptcy works in the best interests of the creditor not the person in debt.
To better understand this, I like to use the example that if you were going to get divorced, would you use your ex-spouses’ lawyer? The answer is obvious that it is not in your best interests.
The trustee plays a critical role in all formal restructuring (Bankruptcy or Consumer Proposals) and it is the trustee’s job to complete any formal filing, to maximize the return to the creditors through your income and assets whereas my job is working for you and ensuring you also have representation through the process and get as much debt relief as possible and to help protect what is yours.
Consumer Proposals
A better approach many times in avoiding bankruptcy is through a formal Consumer Proposal. I am able to structure a repayment schedule so you repay only a portion of your debt. This includes all of your unsecured creditors.
The monthly payments are usually less than a third of what you are presently paying to the creditors and you are debt-free in less than 60 months.
Avoiding foreclosure
Another area of specialty for me is to keep people in their homes where possible and avoid potential foreclosure. It is also a misconception that you have to go bankrupt if you need to walk away from a house if you can’t make the payments. This is untrue and I have been able to help immensely here.
Debt management and budgeting guidance
If budgeting seems to be your weakness, I can assist you in proper money management and help you free up money at the end of the month through an effective cash flow plan ensuring all of your cost of living expenses are comfortably covered.
All of my clients receive valuable credit rebuilding to increase their credit scores. My advice and support through a credit – rebuilding plan has resulted in huge successes in all of my clients getting back into mainstream banking with fair and good interest rates.
Debt restructuring for businesses
As far as businesses, I have helped save a lot of sole proprietors and corporations in keeping them in business and to get rid of the majority of the debt they are drowning in and turn them into a profitable business again.
Quite often we can also help obtain consolidation loans and pay off all the creditors in full as well.
