Debt Relief Program & Consumer Proposals in Calgary
Whatever your debt situation, our Licensed Insolvency Trustees are ready to help you back to financial stability with debt settlement arrangements. Just give us a call, and we’ll give you a clear path forward.
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Debt relief services in Calgary
If you’re struggling with debt and located in Calgary, our team is here to help you figure it out. We get that dealing with debt is tough, and we’re ready to listen and work with you to find the right solution.
Our Licensed Insolvency Trustees (LITs) have helped loads of people just like you get back on track. Whether you’re considering consolidating your debts, looking at insolvency, considering a consumer proposal, or thinking about bankruptcy, we’re here to help you every step of the way.
Debt consolidation in Calgary
If you’re in Calgary and struggling to keep up with multiple debts, a debt consolidation loan might seem like a good way to simplify things. While it can lower your interest rates and make payments more manageable, it’s not always the best solution.
A consumer proposal could be a better fit. Unlike consolidation loans, it can reduce the total amount you owe, offer interest-free payments, and provide legal protection from your creditors. It’s a more effective and less stressful way to tackle your debt.
For a free consultation to explore the best debt solution for your situation, give us a call today. We’re here to help you find a clear path to a debt-free life.
Licensed insolvency trustee in Calgary
Do you have questions on how you can deal with unmanageable debts? Are you lost when it comes to finding a solution to your debt problems? Then our Licensed Insolvency Trustees (LITs) can provide assistance for all types of debt restructuring, including bankruptcy, in Calgary. We are also qualified to provide debt relief solutions and offer advice on how to work with your creditors.
If you are overwhelmed with payments, obtain debt help today by calling the Licensed Insolvency Trustees at Harris & Partners in Calgary, Alberta. Call us today at 587-315-1475 to speak with our experienced team dedicated to improving your financial education, relieving your financial difficulties, and leading you to financial success.
Consumer proposals and experienced bankruptcy trustees in Calgary
When it comes to consumer proposals, debt relief programmes, and personal bankruptcy, our Licensed Trustees have been helping the people of Calgary to regain control of their finances for over 50 years. Our Trustees provide professional help when you’re considering bankruptcy and can help you with a great many financial solutions.
If you or a loved one need help with debt problems, we offer debt solutions in Calgary that can help.
Debt help in Calgary - it’s a simple process
Visit us for a chat in Calgary. We start every relationship with an open, friendly conversation to really get to know your financial situation. We listen carefully and without judgment as we go over your income, debts, and who you owe money to. This first meeting is free, completely confidential, and all about understanding you better.
After we fully understand your financial situation, we’ll help you create a plan that suits you just right. We’ll explore different ways to handle your debt, focusing on the methods that make you feel most at ease. Our job is to guide you, not push you into any decisions.
When you’re ready and confident with the plan, we’ll start putting it into action. Your financial well-being is our main priority, and we’re here to back you up at every step.
Consumer Proposals: A Better Alternative to a Debt Consolidation Loan
Are you struggling with multiple debts and considering a debt consolidation loan? A consumer proposal might be a better solution for you. Unlike traditional debt consolidation, which combines your debts into a single loan without reducing the total amount owed, a consumer proposal can be far more manageable in the long run.
A consumer proposal is a legally binding agreement managed by a Licensed Insolvency Trustee (LIT). It allows you to repay only a portion of your unsecured debts over a period of up to five years. This means you can reduce your overall debts, and start working towards a better financial position.
Key benefits of a consumer proposal include:
- Debt Reduction: Pay back an agreed proportion of what you owe, unlike a consolidation loan where the full amount is due.
- Legal Protection: Once filed, a consumer proposal protects against creditor actions, giving you peace of mind.
- No Interest: Payments are interest-free, making it easier to manage your finances.
- Single Monthly Payment: Simplify your debt management with one affordable monthly payment.
Consumer proposals can be a more effective and less stressful way to regain control of your finances compared to a traditional debt consolidation loan.
Harris & Partners: Calgary office
You don’t have to deal with debt on your own in Calgary. Our Licensed Insolvency Trustees are ready to help you. Check out our contact info below, and reach out to us today.
Your estate manager in Calgary
David joined Harris & Partners in 2021 after spending 10 years with Deloitte & Touche and Alvarez & Marsal Canada. David has obtained degrees and professional programming experience from both the University of Prince Edward Island and Haskayne School of Business School at the University of Calgary. David became a Licensed Insolvency Trustee in 2016 and helps manage the firm’s Alberta practice.
David’s focus is on providing insolvency services to both individuals and small-to-medium businesses in the Alberta region. His goal is to ensure his clients achieve their financial rehabilitation goals via guidance from Harris and Partners.
Address
500 4th Ave SW, Unit 1910, Calgary, Alberta T2P 2V6
Office hours
By appointment only:
Monday: 09:00 AM – 05:00 PM
Tuesday: 09:00 AM – 05:00 PM
Wednesday: 09:00 AM – 05:00 PM
Thursday: 09:00 AM – 05:00 PM
Friday: 09:00 AM – 05:00 PM
Our debt management solutions in Calgary
We understand dealing with debt can feel neverending. Thankfully, there are multiple debt relief options in Calgary that could help you:
Example Debt Savings Calculator With Harris & Partners Debt Relief
Your Potential Debts:
Your monthly debt repayments over a 60-month period would be
Before Help
$1409
After Help
$210
Monthly payments are determined based on individual financial factors
How Much Could I Save?
Why choose us for debt help in Calgary
Our Licensed Insolvency Trustees in Calgary have years of experience in designing personalized plans that can drastically cut down your debt, potentially by as much as 80%.
No matter what language you’re most comfortable with, our Calgary team is here to give clear, straightforward advice. Whether it’s Farsi, Portuguese, Italian, or Tamil, we make sure everything is easy to understand.
Our commitment to helping you goes beyond Calgary. With services in nine provinces, support is just a phone call away whenever you need it.
Frequently asked questions
What is a Consumer Proposal?
A consumer proposal is a formal, legal debt settlement program available under the Bankruptcy and Insolvency Act. It is a safe, reliable debt relief program that allows you to avoid bankruptcy.
Is a consumer proposal the same as bankruptcy?
A proposal is not bankruptcy, but it does provide the same creditor protection as bankruptcy.
Is a consumer proposal a form of debt consolidation?
A consumer proposal is a form of debt relief that can be considered a type of debt consolidation, but it is not the same as traditional debt consolidation loans.
Debt Consolidation Loan:
This involves taking out a new loan to pay off multiple existing debts, effectively consolidating them into a single loan with a single payment, typically at a lower interest rate. This approach does not reduce the total amount of debt owed but can simplify payments and potentially reduce overall interest costs.
Consumer Proposal:
This does not involve taking out a new loan. Instead, it is a negotiated settlement where creditors agree to accept a reduced amount of the debt owed, payable in manageable monthly instalments, without additional interest.
What are the Pro's and Con's of a consumer proposal?
Advantages of a Consumer Proposal:
- Reduced Debt: You pay back only a portion of what you owe.
- Legal Protection: Protects against creditor actions.
- No Interest: Payments are interest-free.
- Structured Payments: Provides a clear, structured repayment plan.
Disadvantages of a Consumer Proposal:
- Credit Impact: It negatively affects your credit score, though less severely than bankruptcy.
- Public Record: It is a matter of public record.
- Approval Required: Creditors must agree to the proposal terms.
When will my debt become forgiven?
If you have entered into an official debt relief program that includes debt forgiveness, such as a consumer proposal, your debt will be written off as soon as you complete your payment term, which can be anywhere between 1 and 5 years.
What is the difference between insolvency and bankruptcy?
Insolvency is a financial state where a person cannot meet debt payments on time. Bankruptcy is a legal process that happens when the individual declares he or she can no longer pay back his or her debts to creditors.
What Assets Are Exempt from Bankruptcy?
In Calgary, certain assets are protected during bankruptcy. These include necessary clothing, household items, work tools, a primary vehicle up to a specific value, some types of pensions, and possibly a portion of your home equity.
How Do I Declare Bankruptcy?
To start the bankruptcy process, you need to meet with a Licensed Insolvency Trustee in Calgary. They will review your financial situation, discuss your options with you, and if bankruptcy is the right path, guide you through the required steps and paperwork.
Find your path to financial freedom in Calgary
Dealing with debt can feel overwhelming, but you don’t have to tackle it by yourself. Our team in Calgary is here to give you the support you need. Just fill out the form below for a free, no-pressure chat.
It's never too late to obtain debt help. Book your free consultation today
- Phone number
- 800-268-8093
- hello@harrispartners.ca
Contact form
Debt Relief in Calgary & Across Canada
Whether you’re in Calgary or further afield, help is never far away. Give us a call, and we’ll give you a plan to get back on your feet financially.