Consumer proposals and debt solutions in Edmonton

The cost of a consumer proposal in Edmonton can vary based on your specific financial situation and the amount of debt you owe. Generally, the cost is included in the monthly payments you make through the proposal.

These payments are determined by what you can afford and the agreement reached with your creditors. There’s no additional out-of-pocket fee; the payments you make go towards settling your debt and cover the fees for administering your proposal. To get an exact idea of what your payments might look like, speak to one of our Licenced Insolvency Trustees for personalized advice.

When you declare bankruptcy in Edmonton, certain assets are protected and cannot be taken by your creditors. These exemptions are set by Alberta’s laws and typically include:

• A portion of the equity in your primary home (up to a certain value).
• Some of your personal belongings, like clothing and household goods.
• A vehicle up to a certain value.
• Tools of your trade up to a specific value you use to earn income.
• Certain types of savings, like RRSPs (excluding contributions made in the last 12 months before declaring bankruptcy).

These exemptions are designed to ensure you’re not left without the basics you need to live and work. However, the exact values and types of exempt assets can change – for more detailed information, feel free to give our Edmonton team a call today.

The process for declaring bankruptcy in Edmonton involves a few different steps:

• Talk to a Licensed Insolvency Trustee. They’re the only ones in Canada who can guide you through bankruptcy. They’ll examine your situation and determine whether bankruptcy is your best choice.
• Fill Out the Paperwork: With your trustee’s help, you’ll list all your debts, assets, and how much money you make and spend.
• File for Bankruptcy: Your trustee sends off your paperwork. This stops your creditors from bugging you or suing you.
• Do Your Bankruptcy Tasks: You might need to go to counseling to learn about money management, report your monthly earnings to your trustee, and possibly pay some of your earnings to your trustee.
• Finish Up: After you’ve done everything required, you get discharged from bankruptcy, meaning you’re free from the debts that were included.

Bankruptcy is a big step with lasting impacts, so getting advice from one of our Trustees is an important part of making sure it’s the right move for you.

Declaring bankruptcy can be a viable option to escape financial doom and gloom, but it’s important to seek specialist Insolvency Trustee advice about your options before you take final action.

We offer a specialist bankruptcy service to provide debt relief solutions to clients who are on the verge of losing their property and assets. You can find out more information about our bankruptcy solutions by contacting us and a member of our team will be happy to advise you in complete confidence.

When it comes to consumer proposals in Edmonton the Insolvency Trustees at Harris & Partners Inc will investigate every possible option to ensure that we find the best solution to your debt problems.

We’ll negotiate on your behalf with your creditors to reduce your monthly payments and free up more disposable income for you. A consumer proposal affords you more financial control and the luxury of keeping your assets, so we will try to secure this option for you wherever possible.

To learn more about consumer proposals in Edmonton, get in touch with our Insolvency Trustees for expert advice on your own personal financial situation.

When a company finds itself unable to pay its debts, it may declare itself bankrupt. This is known as corporate bankruptcy. As company directors can be personally liable for any debts the business has racked up, it makes sense to get expert advice before taking action.

For businesses facing corporate bankruptcy, we place your business interests at heart by offering specialist advice and practical solutions to ensure that you understand every option available to you.

To find out more information about our corporate bankruptcy solutions, get in touch with our Edmonton office and speak to a member of our bankruptcy trustee team.

When a business is unable to pay off its debts and its debts are more substantial than its assets, the business is said to be in a state of corporate insolvency.

We offer specialist advice on corporate insolvency in Edmonton. For more information about successfully dealing with corporate insolvency, contact our team of Insolvency Trustees who’ll be happy to advise you.

Unlike debt settlement which involves establishing an agreement to negotiate reducing or diminishing debt repayments, debt consolidation involves taking out a loan to pay outstanding debts.

Debt consolidation is a better option if your debt has not overtaken you completely, and we’ll do everything possible to find a loan that will reduce your monthly payments and make your debt manageable again.

Our specialist debt consolidation services can help to restore your financial freedom, reduce your stress levels, and make your debts manageable again. Get in touch with our Edmonton team today.

Debt settlement is an agreement between the party in debt and creditors to negotiate a financial strategy to reduce debt. We’re highly skilled at negotiating with creditors on your behalf, and we do everything within our power to reduce your debt payments as much as possible.

To discuss debt settlement solutions further, speak to the team at our Edmonton office who’ll be glad to help.