Airdrie Bankruptcy | Credit Counselling | Debt Help

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Convenient Airdrie Location. Local Offices Across Alberta.

120 - 2 Ave. NE, Suite 201 Airdrie, AB T4B-2N2

Call: 1.855.884.9243



Debt Problems? Debt Solutions!

 

Are Your bills pilling up? Creditors calling? Only paying minimum payments? Tax Debt? Wages Garnished?  We can help!

We have helped many people just like you in Airdrie and across Alberta gain control of their debt and start believing in a debt free future. Depending on your financial situation, debt advice and credit counselling may be all you need to get back on track. In other situations, you may require the legal protection of a consumer proposal or a bankruptcy. Whatever your specific debt situation, we can help you too!

Stop Creditor Actions Today!
When you contact Bromwich & Smith, not only do you benefit from receiving debt help from our professional Credit Counsellors, we are also licensed by the Federal Government and Government of Alberta as Consumer Proposal Administrators and Licensed Insolvency Trustees (formally known as Trustees in Bankruptcy). This gives us the authority as an Agent of the Court to present options to your creditors that will legally force them into a settlement and immediately stop all creditor actions.

Believing In Your Future!
Our team of qualified Credit Counsellors, Proposal Administrators and Licensed Insolvency Trustees can provide you with the guidance and debt solutions you need. We will apply our over 40 years of agency debt solution experience in Airdrie and across Alberta to your unique financial situation and make recommendations to help you solve your debt problems. We look forward to offering you reliable, non-judgmental and professional help to take control of your finances and start believing in your future again. Your debt free future starts here today.
What Is A Consumer Proposal & How Can It Eliminate Your Debt?
Click below to discover how a Consumer Proposal can be a powerful alternative to bankruptcy. 

What is a Consumer Proposal?

Consumer Proposals were created as an alternative to personal bankruptcy and can be a “win-win” situation for both you and your creditors. A consumer proposal can significantly reduce your debt and will immediately stop all creditor legal actions against you.

Based on your specific financial situation, a Bromwich & Smith trustee will negotiate with your creditors for you, offering a payment plan based on an amount that you can afford and not what creditors are demanding. Amount of settlement is usually only a percentage of what you originally owed. A Consumer Proposal is legally binding and once agreed upon, your settlement amount can't be increased...your creditors can't come back looking for more.

Creditors “win” with consumer proposals since they will receive more money then they would in a bankruptcy, and consumers win since they can keep all their assets, and can pay back their debt at a rate they can afford and not what creditors were demanding, interest free.

 

Your eligibity for a Consumer Proposal will depend on your particular financial picture. To discuss your options and eligibility, give one of our Credit Counsellors at Bromwich & Smith a call today.

Stop ALL Creditor Actions

As soon as a Consumer Proposal is filed, all actions against you will stop. This means collection calls will immediately stop, as will wage garnishees and all other creditor legal actions.

Make One Affordable Monthly Payment

When under the protection of a consumer proposal, all of your debts are included in one monthly payment. This payment amount is negotiated between your Bromwich & Smith Trustee and your creditors, and is set at an amount that you can afford, usually only a percentage of what was originally owed.

No Interest Charges

All interest charges stop.  There is no interest added to your proposal amount, for the entire duration of the proposal. Every cent you pay goes towards paying your debt and not interest!

Keep Your Assets. Keep Your Home.

A consumer proposal does not include assets in which creditors have leins, such as car loans. Mortgages are also not included. However, you may be able to make arrangements to continue with the payments so that the asset can be retained. If an individual has a mortgage on their residence, they can continue making the mortgage payments.

No Fee Payments From You!

Our fees are based on a tariff set by the Bankruptcy and Insolvency Act, and the fees are deducted from the payments made by you, before any funds are issued to your creditors. There is no additional cost to you above and beyond the monthly payment in the proposal.


Avoiding bankruptcy in Airdire


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Airdrie Credit Counselling
Bankruptcy is not the only solution...
Debt has a way of quickly piling up. When debt gets out of control, it may seem like the only way out is personal bankruptcy. In Canada, however, there are a number of different options for taking control of debt that don’t involve going bankrupt.

Credit counseling
Credit counseling is a good option for people who want to avoid bankruptcy, if it is undertaken before debts have gotten completely out of control. It involves developing a plan to reduce your credit card debt, learning how to manage your spending and credit use, and how to budget to save and pay down debt. Seeking credit counseling sooner rather than later is important if you want to avoid bankruptcy. The credit counsellors at Bromwich & Smith are a great source of help. Things to keep in mind: Credit counseling cannot provide you with legal protection from your creditors. Credit counseling can provide you with the skills and information you need to prevent the same problems from occurring in the future.

Debt consolidation
Debt consolidation involves taking out a loan, using it to pay off all your debts, and then making one monthly payment instead of multiple payments. You can also transfer credit card debt to one card to take advantage of a lower interest rate. The potential savings with debt consolidation can be significant, especially if you have multiple high-interest accounts. Things to keep in mind: Debt consolidation loans usually require good credit and a steady, well-paying job. Many debt consolidation loans are home equity loans, so a home with a good amount of equity is necessary. Debt consolidation doesn’t actually reduce the amount you owe – it restructures the way you pay back your existing debt. Home equity lines of credit can be risky because defaulting on your loan can result in losing your home or result in more debt.

Consumer proposal
A consumer proposal is an alternative to bankruptcy that involves settling your debts for less money than you actually owe. Consumer proposals can only be prepared by a licensed proposal administrator and licensed insolvency trustee (formally known as a bankruptcy trustee), like the team at Bromwich & Smith. We will negotiate with your creditors to reduce your debt to an amount you can afford to pay off, usually within five years. Then, instead of making monthly payments to creditors, you make one payment to your trustee. Things to keep in mind: Along with bankruptcy, a consumer proposal is the only other arrangement that legally stops collection activity. Unlike a bankruptcy, a consumer proposal allows you to keep all of your belongings.

Our professional and experienced staff in Airdrie will help you decide the right path to help you take control of your finances. Call us today and take back your future.
Call Us. One Convenient Number for All Alberta Offices
1-855-884-9243 (ALBERTA TOLL FREE)
Convenient Airdrie Location - Please Call for Appointment

Local Offices Across Alberta. Click Here for Directory
Airdrie

120 - 2 Ave. NE, Suite 201

Airdrie, AB T4B 2N2

Call: 1.855.884.9243 Toll Free
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One Convenient Number For All Alberta Offices

Call: 1.855.884.9243 (Toll Free)