You’re worried about not being able to pay your debts. Either you are receiving collection calls or unable to make minimum payments. Your situation may be the result of overspending, loss of employment, a matrimonial separation, illness or gambling.
Perhaps you have contacted a debt counsellor, approached your family and friends for financial assistance or contacted a lender to consolidate your debts. You are looking at all your options. You are anxious, stressed and worried.
Often when faced with adversity, we don’t know where to turn. At Crowe Soberman Inc. (Crowe Soberman), we have Licensed Insolvency Trustees who are experienced and trained to manage circumstances, such as these. Here are few things to expect when you first contact Crowe Soberman:
- No Judgment: Speaking with us is a “no judgment zone.” We do not judge why you are in your predicament. We are simply here to help you find a solution.
- A No Cost Consultation Meeting: We will meet with you to review your assets, debts and monthly income and provide you with options that are available to you to help you deal with your debts. There is no cost to you for the consultation.
- A Monthly Budget: We will also assist you in formulating a monthly budget. Your budget will help you decide which option is best for you.
- Options: The options available to you to resolve your debt load are either to make a formal settlement with your creditors through a Consumer Proposal/Division 1 Proposal or to file a bankruptcy. You make the decision with the Trustee’s assistance and experience. These options are available to you under the provisions of the Bankruptcy and Insolvency Act, a Federal Statute.
Keep in mind, your Trustee’s fees are paid through the monthly payments you make in either a Proposal or a bankruptcy. The goal is for you to walk away from your consultation meeting with a sense of relief and a path forward.
Feel free to reach out to one of our experienced Trustees at 416-929-2500.
Connect with the Author
Linda Stern is a Senior Manager and Licensed Insolvency Trustee at Crowe Soberman Inc. She has over twenty-five years of experience working in Montreal, Ottawa and Toronto, primarily in consumer insolvency matters consulting with individuals overwhelmed with debt and helping them find solutions that work best for their financial and personal situations.