Hinton Credit Card Debt Relief

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Local Offices Across Alberta.
Hinton, AB Call:(780) 865-1027 

Overwhelmed By Debt? We Can Help!

In Hinton and across Alberta, Bromwich & Smith has helped thousands of people eliminate their debts and start living debt free. We can help you too!

Debt problems? Debt Solutions!

The good news is, no matter what the debt problem, there is a solution. However, not all solutions are created equally, and choosing the right solution can make a significant difference in the end result. This is where the highly trained debt professionals at Bromwich & Smith can help. We will use our over 40 years of debt crisis experience to examine your financial situation and help you understand the different options and determine which solution will work best for you. Whether it be budgeting, credit counselling, debt consolidation, a consumer proposal or personal bankruptcy, we can help you through it.

We Will:

-Conduct a detailed analysis of your finances

-Examine all of the debt solution options available to you

-Determine the debt solution that best addresses your specific financial situation

-Stop the stress and put you back on the path to living debt free!
 


Are the debt solutions offered by Bromwich & Smith legally binding on creditors?

Absolutely! In fact, the only debt solutions available in Alberta that are legally binding on your creditors are a consumer proposal and bankruptcy. And the only debt professionals that have the legal authority to administer these two options are proposal administrators and lincensed insolvency trustees.


When you deal with Bromwich & Smith, you will be dealing with a Consumer Proposal Administrator and Licensed Insolvency Trustee (previously known as a Trustee in Bankruptcy), a highly regulated designation licensed by the provincial and federal governments. This gives us the authority as an Officer 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.


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 Hinton


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Hinton Debt Consolidation

Consumer Proposal and Bankruptcy - What are the differences?

Before we look at the differences, let's focus on an important similarity between consumer proposals and bankruptcies ... both options are legally binding on your creditors. This means that once a proposal or bankruptcy is filed and accepted, as long as you live up to your part of the agreement, your creditors can no longer take any further actions against you. They can't call and they can't demand any additional funds beyond the agreement.


What is a Consumer Proposal?

In a consumer proposal, your creditors agree to settle your debts, usually for an amount lower then what you owed. The amount you pay is based on your budget and what you can afford, not on what your creditors were demanding. You then make only one consolidated monthly payment to your trustee, until the agreed upon amount is settled. Most consumer proposals last no more than 5 years.


Consumer proposal advantages include:
-
Creditor actions, such as wage garnishment & collection calls stop immediately
-
Interest accumulation stops
-
You pay just one consolidated monthly payment based on what you can afford
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You can keep your home and other assets
- If your finacial situation improves, you can increase your payments so as to complete your proposal earlier


What is a Bankruptcy?

With a bankruptcy, you are no longer liable for your unsecured debts. They are wiped clean an you are given what can be called 'a financial fresh start'. Keep in mind, no one loses everything they own in a bankruptcy filing. Your trustee will help you determine which assets you’ll get to keep and which assets you will need to release to the trustee for sale. In Alberta there are exemptions for a number of items that allow you to keep these assets in bankruptcy, or a set dollar amount of some assets are also exempt. During your bankruptcy, a maximum earnings limit will be set. Any earnings beyond this limit will be provided to your trustee for redistribution to your creditors.


Advantages of Bankruptcy Include:
- Most of your debts are completely eliminated

- All debt collection against you stops immediately

- You can start rebuilding your credit right away

- Your finances are given a fresh start


In Hinton and across Alberta, bankruptcy and consumer proposals have helped many individuals, couples and families eliminate their debts and regain control of their finances. A free consultation with a licensed insolvency trustee at Bromwich & Smith is your first step. Your trustee will look at your finances and make recommendations based on your specific situation. Your debt free tomorrow starts here today!

Debt Solutions In Hinton - Please Call for Your Free Consultation

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