Debt Solutions In Okotoks - Please Call for Your Free Consultation

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Overwhelmed By Debt? We Can Help!

Bromwich & Smith has helped thousands of people across Alberta and in Okotoks regain control over their finances. We can help you too!

The Solution:

All debt problems do have a solution. However, not all debt solutions are created equally. That is where the skilled professionals at Bromwich & Smith can help. We will examine your specific financial situation and help you understand the differences between your options and determine which option is best for you. Whether the option that fits your specific debt scenario is budgeting, credit counselling, debt consolidation, a consumer proposal or personal bankruptcy, we can help.

We Will:

-Examine your financial situation, including what you owe, what you own and what your earnings are.

-Based on the above, review all of the debt solution options available to you.

-Find the solution that works best for your specific situation.

-Get you back on track to being debt free!
 


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

When you deal with the professionals at Bromwich & Smith, you are dealing with a team that is licensed by both the provincial and federal governments as Consumer Proposal Administrators and Licensed Insolvency Trustees (previously known as Trustees in Bankruptcy). 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.


Avoiding bankruptcy in Okotoks

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

Okotoks Debt Consolidation

Bankruptcy is the very last thing that anyone wants to see happen. Your creditors don’t want you to go bankrupt. You don’t want to go bankrupt. And we at Bromwich & Smith want to do everything in our power to help you avoid bankruptcy by helping you with budgeting, credit counselling and by filing a consumer proposal. However, depending on your financial situation, sometimes bankruptcy can be a valid and necessary option.


Benefits of Bankruptcy


Eliminates most debts.
When your bankruptcy is discharged, you are no longer responsible for most of your unsecured debt. This includes credit card debt, personal loans and lines of credit, student loans in some cases, and back taxes. You will still be responsible for some debts, including child support and alimony.


Takes less than a year.
If this is your first bankruptcy, the bankruptcy is discharged after nine months. At that point, you are no longer responsible for your debts, making payments to your trustee, or reporting your income. This is a very short amount of time compared to how long it would take most people to pay off their debts. For those filing for bankruptcy for a second or even third time, or those with incomes that surpass the allowable threshold as set by the OSB, bankruptcy will take longer.


Stops creditors from contacting you.
For many people dealing with money problems, calls from creditors can be stressful and upsetting. By law, your creditors are no longer allowed to contact you if you file for bankruptcy. That means the collection calls, letters, and other attempts immediately stop. This also includes wage garnishment or legal action.


Teaches you money management skills.
As part of the bankruptcy process, anyone who files bankruptcy is required to receive credit counseling. This counseling, usually done by the trustee, teaches you money management skills. You will learn how to better manage your credit and budget your money so you won’t repeat the same problems that led to your bankruptcy.


Offers a fresh start.
Perhaps the biggest benefit of bankruptcy is that it provides you a fresh financial start. Many people who file bankruptcy are in debt so deeply they would never be able to get caught up and pay off their debts without bankruptcy. Once your bankruptcy is discharged, your debts are erased and you can start fresh.


At Bromwich & Smith, we will do a thorough analysis of your complete financial picture. You can be rest assured, we will find the debt solution that is the best for your specific financial situation.

Debt Solutions In Okotoks - Please Call for Your Free Consultation

Local Offices Across Alberta. Click Here for Directory

Bromwich & Smith Inc BBB Business Review

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Convenient Okotoks Office

14 McRae Street

Okotoks, AB

Call:(403) 995-7880
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