Camrose Debt Help. Credit Counselling & Bankruptcy

Debt Problems?
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Debt Problems? Debt Solutions!

Only paying minimum payments on your credit cards? Creditors and collection agencies calling? Juggling or missing payments?  Owe Canada Revenue? Using Payday loans? These are just a few of the issues that could indicate a financial crisis. We can Help!

In Camrose and throughout the province, Bromwich & Smith has helped thousands of Albertans put a stop to their debt problems and start living debt free. Depending on your situation, effective budgeting may be all you need to get on track to eliminating your debt. 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 ALL Creditor Actions!
A consumer proposal or bankruptcy are the only debt solutions that are legally binding on creditors, and can only be administered by a Licensed Insolvency Trustee, like Bromwich & Smith. We are authorized and regulated both provincially and federally as Consumer Proposal Administrators and Licensed Insolvency Trustees. 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, including the powerful bankruptcy alternative, the Consumer Proposal.

Believing In Your Future!
The team at Bromwich & Smith has over 40 years of debt solution experience and will use this expertise to examine your unique financial situation and make recommendations to help you solve your debt problems. Our team of qualified Credit Counsellors, Proposal Administrators and Licensed Insolvency Trustees can provide you with the guidance and debt solutions you need.

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. In Camrose and throughout Alberta, your debt free future starts here today.

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.


Camrose debt consolidation


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Camrose Debt Help
Ignoring debt issues could be the worst thing to do....

Leaving bills unopened and ignoring phone calls from bill collectors are common ways we ignore our debt, however, the problem with this approach is when we lift our heads out of the sand, our money problems are still there. Not only that, they will only get worse as a result of late fees, collections, and lowered credit scores. Most people ignore their problems because they don't know how to approach them.Here are a few tips for tackling your money problems head on:

1) Identify the problem.
If you're missing payments, figure out why. Did you lose your job and can't afford to make payments anymore? Are your debt payments getting too high for you to handle? Or perhaps you have a shopping habit that's starting to get out of hand? Being honest with yourself about why you're having trouble is the first step in taking control.

2) Act now.
When it comes to financial problems, the sooner you act, the better. Contact your creditors as soon as possible. This is the part we all dread. Keep in mind, however, that most creditors look favorably on people who take the initiative to try and resolve their problems. They are more willing to help when you show that you take your financial obligations seriously.

3) Find out what your options are.
Ask your creditors if they offer any type of help for people going through financial hardship. Some companies will allow you to postpone a payment or two, set up a payment plan, lower your payments based on your income, or even defer payments.

4) Consider professional help.
If you’ve contacted your creditors, made a plan, reworked your budget, and are still coming up short, it is time to call Bromwich & Smith. During your first consultation (which is free), we will review your finances and let you know what your options are. This could be helping you redo your budget or possibly a consumer proposal that settles your debts for less than what you owe. If need be, a Bromwich & Smith Licensed Insolvency Trustee can administer a bankruptcy, but this is always the final resort, when it is determined that other alternatives aren't suitable for the financial situation.

When money problems become overwhelming, it’s easy to ignore them. But the best thing you can do is take control and face them head-on. No matter how serious your money problems are, there is always a option. Give Bromwich & Smith in Camrose a call today. Your debt free future starts here today!

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