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Debt Relief Saskatchewan: Consumer proposals, bankruptcy and debt consolidation

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Get professional debt relief in Saskatchewan

If you are struggling to manage your debt, require debt relief and all other options have been exhausted, then it might be time to consider filing for bankruptcy.

Residents in Saskatchewan are eligible to file for bankruptcy if they are at least $1,000 in debt and cannot pay back what they owe.

If you are considering bankruptcy, then you should consult a local licensed trustee who can help guide you through the process and bring you back onto the road to financial recovery. Most property declared exempt will vary as provincial bankruptcy exemptions will apply.

If you do file, you can take comfort in the knowledge that some items will be protected from seizure during the bankruptcy process.

Harris & Partners is a specialist Bankruptcy Trustee with offices based across Canada, providing debt relief solutions to individuals and businesses struggling to manage their debt.

Contact us today for a free consultation with one of our licensed insolvency trustees and we’ll find a debt relief solution that will get your finances back on track.

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How does a consumer proposal work in Saskatchewan?

Filing a consumer debt proposal in Saskatchewan allows individuals to work closely with a Bankruptcy Trustee in order to negotiate a reduced and more manageable debt repayment plan with creditors.

On your behalf, your trustee will file the proposal and liaise with creditors to make your debt more manageable. All you have to do is make a single monthly payment and this will put an end to the dreaded calls and threats.

If you’re a resident in Saskatchewan and you find yourself owing a debt of $250,000 or less, then a consumer proposal could be the option for you.

If you are based in Saskatchewan and want to find out more about the process of filing a consumer proposal, get in touch with us today.

Frequently asked questions

What happens when I file for bankruptcy?

Bankruptcy should always be considered a final resort for people struggling to overcome financial hardship. However, contrary to belief, you will not lose all of your belongings.

When you file for bankruptcy, your licensed trustee will take over the responsibility of managing your assets and will use the proceeds from selling certain assets over to creditors to start paying off what you owe.

Depending on your unique circumstances and where you live, there will be certain exemptions that cannot be seized by creditors, such as household furnishings valued up to a certain amount.

Why file a consumer proposal?

A consumer proposal can be a better option than bankruptcy for a number of reasons. You do not have to surrender any assets in a consumer proposal and instead, you can pay a reduced fixed monthly payment for up to five years. Then, as long as you make the payments, you will be debt-free on the date the consumer proposal ends.

A consumer proposal can also reduce debt by up to 80%.

What will happen to my wages?

Your wages and income will be safe from creditors when you file for bankruptcy if it is below a certain threshold. Income over a certain amount will require you to make surplus payments to your trustee who will then distribute that to creditors in the same way as assets.

Surplus income will be calculated after tax.

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Saskatchewan bankruptcy exemptions

  • Clothing and jewelery valued up to $7,500.
  • One motor vehicle valued up to $10,000.
  • Work equipment/tools of your trade.
  • All household furniture and appliances.
  • Up to $50,000 of your home’s equity.
  • Medical and dental aids.
  • Most retirement savings plans (RRSPs).
  • Some life insurance policies.
  • Pets (up to $2,000 in value).
  • Farmers: Up to $20,000 tools of the trade, two bushels of seed per acre of land, livestock and equipment to sustain 12 months’ worth of business, and enough cash or crops to sustain you until the next harvest.

Consult a Licensed Insolvency Trustee in Saskatchewan

Legally, only a Licensed Insolvency Trustee is authorized to administer proceedings for a bankruptcy or consumer proposal. If other debt relief agencies try to offer you consumer proposals or bankruptcy options, you should never pay anyone who isn’t a licensed trustee.

Other companies are not legally authorised to do this for you and so you should make sure you consult a trustee when it comes to managing your debt.

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Support across Canada

Why Harris & Partners

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Remove up to 80% of your debt

Our Licensed Insolvency Trustees provide a customized service that could remove up to 80% of your debt and stress, so you can breathe easier.

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We speak your language

Our multilingual team provides support in many languages, from Farsi and Portuguese to Italian and Tamil, leaving out complicated jargon, so you understand everything, every step of the way.

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Debt support across nine provinces

Want to speak to someone in person? Our team is on hand to help at a Harris & Partners office near you.

Get debt help in Saskatchewan today

Do you have questions about the various debt relief solutions available to you? We know all the options can be overwhelming, which is why our team is always on hand to help. Get in touch today and we can help you find the best path forward.

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Shahrad Nakhaie
Shahrad Nakhaie
They are so great, every thing was so easy for me. Unbelievable, All my debt are gone now and I feel like I'm free, thanks Osman Ali for all you did for me, at the first time it's even hard to believe that was real, but it's real and easy. Thank you bro for your help.
Osman is a professional and you cant find anybody better. He really cared about my situation and paid attention to every little detail so he can help me best. Thank you osman and the rest of the team for helping me through my struggles.
Banda Gueye
Banda Gueye
Osman is a vert nice gentlemen, he was polite sweet and gentle. He really cared about my situation and paid attention to every little detail so he can help me best. Thank you Osman and the rest of the team for helping me through my struggles.
Kim Brown
Kim Brown
So far this has been a great company, I have been with them over a year. Every time I have an issue Josh jumps right on it and helps me out. He never makes me feel like I'm being a pain in the butt 🙂 I definitely recommend them, I have referred two of my family members to get help and now Josh is helping them as well. I thank you Josh for all the hard work and responding so quickly to all my messages.⭐️⭐️⭐️⭐️⭐️
Ajanthan Murugananthan
Ajanthan Murugananthan
Staff members Samuel and Josh were both amazing. Both very friendly, professional, and efficient. They took care of my credit card issues and line of credit and made it manageable. I would highly recommend Harris & Partners Inc. They have given me a new life in my financial life to success.
Paul Woo
Paul Woo
Staff members Yasan and Josh were both amazing. Both very friendly, professional, and efficient. They took care of my credit card issues and made it manageable. I would highly recommend Harris & Partners Inc.