Debt Solutions In Spruce Grove - Please Call for Your Free Consultation

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Overwhelmed By Debt?
Don't Stress. There Are Solutions!

Bromwich & Smith has helped thousands of people across Alberta and in Spruce Grove eliminate their debts. We can help you too!

Debt Crisis Warning Signs:

-Unable to keep up with your bills?
-Using credit cards or line of credit to pay your bills?
-Only making minimum payments on your credit cards or loans?
-Having a hard time paying your rent or mortgage?
-Using your overdraft to cover expenses?
-Loss of job or change in income?
-Creditors calling?

If you are facing any of these situations or other financial difficulties, please know that you are not alone, and Bromwich & Smith can help!


At Bromwich & Smith, our team of experienced financial professionals are regulated and licensed by both provincial & federal governments as credit consellors, proposal administrators and licensed insolvency trustees. So, not only do we focus on your financial health and wellbeing, we have the legal authority as an Officer of the Court to offer and administer programs to you which will immediately stop creditor actions and legally bind your creditors to a settlement.

Depending on your financial situation, credit counselling and budgeting help might be all you need to take control of your debt. In other situations, an immediate legal option may be required, such as a consumer proposal or bankruptcy.

How do we determine which debt restructuring solution is best for you?

-We will examine your complete financial situation, including your assets, your income and your debt.

-We will determine which solution(s) best fit your situation.

-We will provide you with complete details on the advantages & disadvantages of the debt solutions available to you.

-We will help you believe in a debt free tomorrow, starting today!


Bankruptcy and alternatives in Spruce Grove

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.


  FREE INITIAL CONSULTATION

 
NO HIDDEN FEES


  NON-JUDGEMENTAL

Spruce Grove Debt Help
Taking Control of Your Credit Cards
(To see more informative articles, check out our Resource Centre)

Credit card debt can eat away at your monthly budget, drag your credit score down, and burden you with high interest and monthly payments. But getting out of debt can be a tricky process and requires a little knowledge on your part. These tips can help you make a plan:
 
- Know how much you actually owe. It’s easy to lose sight of how much debt you’re actually carrying around on your cards. Knowing what your minimum payments are isn’t enough, you need to know the total balances on your cards and their interest rates. It will help you get a clearer picture of how much you owe and help you prioritize your debt reduction.
 
- Don’t take on more credit. Department stores and credit card companies like to tempt you with offers and discounts that seem too good to pass up. Don’t get drawn in. While they may save you a few dollars today, they will cost you a lot more in the long run and will only make it harder to reach your goal of paying off debt.
 
- Pay more than the minimum amount. If you want to pay off your debt, you must pay more than the minimum amount. Minimum amounts are designed to keep you in debt for years and cost you a fortune in interest over time. Even just $5 extra a month can shave years off your repayment time and potentially save you thousands of dollars.
 
- Cut spending and pay off your credit cards. Look for places you can cut costs and use that money to go towards paying off your credit cards.
 
- Be aware of costs. Credit card companies make money from their fees and from interest. Don’t go over your limit or pay your bill even a day or two late. This will help you save money and pay your debt off faster.
 
Tackling your credit card debt may seem like a daunting task at first. If you make a plan, stick to it, and remember the costs associated with carrying credit card debt, you’ll be able to save money and pay your cards off faster.
 
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Debt Solutions In Spruce Grove - Please Call for Your Free Consultation

Local Offices Across Alberta. Click Here for Directory

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