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Debt Problems?

Debt Solutions!

Whatever your financial situation, we can help.

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ALBERTA Toll Free: 1-855-884-9243

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Debt Stress? Real Solutions!

Did you know, a Licensed Insolvency Trustee might be your best solution to avoid bankruptcy?

When you are experiencing financial problems, knowing the options available to you is crucial. The skilled and experienced Licensed Insolvency Trustees at Bromwich & Smith in Fort McMurray can provide you with the debt help and relief you need. We will walk you through your current financial situation, and provide you with a clear picture of your options. We are here to find the best solution for your individual situation, and that may not be bankruptcy. Keep reading to learn how a Consumer Proposal can be a powerful bankruptcy alternative and a win-win for both you and your creditors.


Only a Licensed Insolvency Trustee can administor a Consumer Proposal or Bankruptcy... the only solutions that are legally binding on your creditors.


Depending on your debt situation, credit counselling and budgeting may be what you need to bring your debt under control. In other cases, you situation may call for the legal protection provided by a consumer proposal or a bankruptcy, and only a licensed insolvency trustee can offer these two solutions.


When you contact Bromwich & Smith, not only do you benefit from receiving debt help from our professional Credit Counsellors, we are also licensed by both federal and provincial governments 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 bind them into the conditions of a settlement and immediately stop all creditor actions. You will be given a plan that fits your budget and will allow you to keep your assets.

Consumer Proposal - An Effective Alternative To Bankruptcy.

Bromwich & Smith will examine your finances with you, to determine if a Consumer Proposal is the best option for you.
We negotiate with your creditors, usually offering payback of a percentage of original debt owed.
You will make one monthly payment spread over a period of up to 5 years. Your payment is interest free.
Legal actions of all creditors immediately stop.
You get to keep your assets.
Our fees are covered by a government tariff.


Believing In Your Future!

Our team of Credit Counsellors, Proposal Administrators and Bankruptcy Trustees in Fort McMurray and across Alberta can provide you with the debt solutions you need today. We've assisted thousands of people just like you across Alberta. We can help you!

Avoiding bankruptcy in Fort McMurray

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.


 Fort McMurray Debt Assistance FREE INITIAL CONSULTATION

 
Debt Consolidation NO HIDDEN FEES


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Fort McMurray Debt Consolidation through a proposal

When debt spirals out of control, your best bet for reining it in is to seek professional help. However, many people are unaware of a valuable tool for financial help—licensed insolvency trustees. The trustees at Browmich & Smith have helped thousands of people get out of debt and avoid bankruptcy.


I don’t want to file bankruptcy, so why should I use an insolvency trustee?


You should know that licensed insolvency trustees actually do more than just handle bankruptcies. They are trained to provide a number of other services as well. Financial counseling is one. If your debt problems are the result of poor money management, counseling with a trustee and working out your own personal debt reduction plan might be all you need.


Trustees also handle consumer proposals. This is a legal agreement between you and your creditors. The trustee negotiates with your creditors on your behalf to settle your debts for less than you owe. Once agreed upon by a majority of your creditors, you then make one monthly payment to your trustee until the agreement is over. Consumer proposal agreements need to be completed in five years or less. This is a good alternative to bankruptcy for many people as it allows you to keep your home and possessions and stops collection activity.


When is the best time to talk to a licensed insolvency trustee?


Ideally, you should see a trustee as soon as you begin to experience difficulty managing your debts. Many people make the mistake of waiting until they have accounts in collections, their credit scores are low, or their wages are being garnished before seeking the help of a trustee. Discussing your options with a trustee as soon as possible is the best way to minimize the damage of too much debt. It’s also the best way to avoid bankruptcy.


How can I get help from a trustee?


Your initial consultation is free of charge. During this time, your trustee will sit down with you and go over your finances. He or she will provide you with all of your options and recommend your best course of action. This could be credit counseling, a consumer proposal, or perhaps bankruptcy. The final decision is always yours.

If you’re in debt and unsure what to do next, give Bromwich & Smith in Fort McMurray a call. We can help you eliminate your debt and start living a debt free future today.

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Fort McMurray

10300 Franklin Ave

Fort McMurray, AB T9H 5H5

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One Convenient Number For All Alberta Offices

Call: 1.855.884.9243 (Toll Free)