Credit Counselling & Debt Solutions In Sherwood Park - Please Call for Your Free Consultation

Local Offices Across Alberta. Click Here for Directory

Service Also Available In:

Punjabi: ਸਾਨੂੰ ਪੰਜਾਬੀ ਵਿਚ ਸੇਵਾ ਪੇਸ਼ ਕਰਦੇ ਹਨ.

Hindi: हम हिंदी में सेवा प्रदान करते हैं।

Urdu: ہم ہندی میں خدمت پیش کرتے ہیں .



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Debt Taking Over? We Can Help!

Nobody plans on letting debt take over, but when it does, it can be absolutely overwhelming. At Bromwich & Smith, we understand that debt can happen to good people, and since 2002, we've been helping people in Sherwood Park eliminate their debt and take back their financial future. In fact, we've helped tens of thousands of people all across Alberta, and we can help you too.

Is Bankruptcy The Only Option?

Although there are situations where a bankruptcy could be your best option, be rest assured, before our trustees will recommend bankruptcy, we will go over the specifics of your financial situation with you, and help you determine if another option would be better for your situation. One powerful alternative to Bankruptcy, available only from a Licensed Insolvency Trustee, like Bromwich & Smith, is a Consumer Proposal.  


Here's how a Consumer Proposal works:

Bromwich & Smith negotiates with your creditors for you, offering a settlement which allows debt to be paid over several years (usually 5), and is based on what your budget allows and not what creditors are demanding. Amount of settlement is usually based on repayment of a percentage of what you originally owed.
All creditors are legally forced into a settlement, even if not all agree.
Creditor actions are immediately stopped, including collection activities, wage garnishees, and all other legal actions.
All interest charges stop.
You pay one affordable monthly payment.
A consumer proposal does not touch your assets.
There are No Fee Payments from you. We are paid by a government tariff, and any fees are included in the final settlement amount.

Just like a bankruptcy, a consumer proposal is legally binding on your creditors. All creditors are bound by the conditions of the proposal.  Once a proposal is accepted, the amount of the settlement is set.  Creditors can't come back for more, regardless of changes in income, windfalls or other improvements in financial status. Another advantage of a proposal over a bankruptcy is that it doesn't effect secured creditors, like mortgages and car payments.  As long as you wish to continue paying your secured creditors, you get to keep your assets.

At Bromwich & Smith, our team of financial professionals are regulated and licensed by the Federal Government, allowing us to provide you with options which can only be offered by a Licensed Insolvency Trustee (previously known as a Bankruptcy Trustee). When you are looking for assistance to eliminate your debt, ask any firm you decide to deal with if they are Licensed Insolvency Trustees.  If they are not, and they recommend a bankruptcy or consumer proposal, they are likley charging you an extra fee for this service, which you would not have to pay when dealing directly with Bromwich & Smith. 


Determine the best debt restructuring solution for you


-We will examine your finances in detail, including all debts, assets and income, if any.

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

-We will provide you with details on the pros and cons of each debt solution available to you.

-We will get you back on the road to eliminating your debt and starting a debt free future today.


You can avoid bankruptcy in St Albert

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

St Albert Debt Consolidation

Warning Signs of Debt Crisis.

When it comes to debt, it is important to seek assistance as soon as possible. In many cases, people will wait until creditors have started calling or their accounts have gone to collections. Collection activity like this can often be avoided if you talk to your creditors or seek assistance at the first sign of trouble. And if collection activities have already begun, the sooner you seek assistance, the better. Our Licensed Insolvency Trustees (previously known as bankruptcy trustees) are here to help.


How can you tell if you need help with your debt situation?

 

-Unemployment or a reduction in pay. When there is no income coming in, or you’re making less then you have in the past, it’s easy to fall behind.

-Divorce. One of the top reasons people in Canada file for bankruptcy is divorce. If you are recently divorced and struggling to make ends meet, a visit with a Licensed Insolvency Trustee could help.

-Using credit cards to pay other debts. When you start using your credit cards to make loan payments or other debt payments, this is a sign you’re relying too heavily on debt to make ends meet. Paying down your debt becomes impossible.

-Minimum payments. Minimum payments are designed to keep the profits of the loan and credit card companies high, and keep you in debt as long as possible. You end up paying money towards interest with little movement on decreasing the actual debt.

-Little or no savings. If you are living paycheque to paycheque, you will have no cushion to get you through leaner times or if you are suddenly burdened with an unexpected expense.

-Using Your Maximum Credit Limit. Your credit score is effected by too much debt, and monthly payments on maxed out cards can be impossible to maintain. This also means that you are likely relying too much on credit.

-Debt Stress. Debt issues can affect all aspects of your life. Your sleep, your family life, and your enjoyment of every day activities.

-Shopping addictions.  An inability to control your urge to shop or spend money is a sign you could use help.

 


Whatever your debt situation Bromwich & Smith can help provide you with the debt relief you need. Call Us Today! In Sherwood Park and across Alberta, we're here to help you eliminate your debt and start believing in your debt free future.

Credit Counselling & Debt Solutions In Sherwood Park - Please Call for Your Free Consultation

Local Offices Across Alberta. Click Here for Directory

Service Also Available In:

Punjabi: ਸਾਨੂੰ ਪੰਜਾਬੀ ਵਿਚ ਸੇਵਾ ਪੇਸ਼ ਕਰਦੇ ਹਨ.

Hindi: हम हिंदी में सेवा प्रदान करते हैं।

Urdu: ہم ہندی میں خدمت پیش کرتے ہیں .

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