Debt Solutions In St Albert - Please Call for Your Free Consultation

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Overwhelmed By Debt? We Can Help!

With over 40 years of combined debt restructuring experience, Bromwich & Smith has helped thousands of people across Alberta and in St Albert regain control over their finances. We can help you too!

-Are your debts causing you daily worry?
-Unable to keep up with bills?
-Only making minimum payments on your credit cards or loans?
-Having a hard time paying your rent or mortgage?
-Creditors and collections agencies sending threatening letters or calling?

If you are facing any of these situations, please know that you are not alone.


Depending on your debt situation, credit counselling and budgeting might be all you need to get your finances back on track. In other situations, an immediate legal option may be required, such as a consumer proposal or bankruptcy.

Consumer proposals and bankruptcies are both legally binding on your creditors and will immediately stop creditor actions. Both require the services of a licensed insolvency trustee, such as Bromwich & Smith, who have the legal authority to file and administer these powerful debt solution options.

Bromwich & Smith is a team of financial professionals, regulated and licensed by the government, with the authority to act as officers of the court. So not only do we focus on your emotional and financial health, we have the legal authority to offer you a consumer proposal or bankruptcy, which will immediately stop creditor actions and allow you to start creating your debt free future today.

How do we determine which debt restructuring solution is best for you?

-We will examine your complete financial situation, including your debts, your assets and what your income.

-We will find the solution(s) that best fit your specific situation.

-We will provide you with easy-to-follow details on the advantages & disadvantages of each debt solution available to you.

-We will get you back on the road to being debt free!


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

Signs that you might be heading towards a Debt Crisis.
(To see more informative articles, check out our Resource Centre)

When it comes to debt and money trouble, the sooner you seek help, the better. Many people wait until accounts have gone to collections or their wages are being garnished before seeking help. Collection activity like this can often be avoided if you seek help at the first sign of trouble. And if collection activities have already begun, the sooner you seek assistance, the better.


So how can you tell if you need help from the financial restructuring professionals at Bromwich & Smith?

 

-You’ve recently lost your job or had a reduction in pay. When there is no income coming in, or if your hours have been cut and you’re not making as much as you did before, it’s easy to fall behind.

-You’re getting divorced. Divorce is one of the top reasons people in Canada file for bankruptcy. If you’ve recently gotten divorced and are struggling to make ends meet, a visit with a bankruptcy trustee might help.

-You use credit cards to pay your debt payments. Using debt to make payments on other credit cards or loan payments is a sign you’re relying too heavily on debt. It also makes it impossible to pay down your debt.

-You can only afford to make minimum payments. Minimum payments are designed to keep you in debt as long as possible. This means you will pay much more in interest than if you were to pay more every month.

-You have little to no savings. It’s important to have a cushion to cover expenses in an emergency. No savings is an indicator you’re living paycheck to paycheck.

-Your credit cards are maxed out. Too much debt hurts your credit score, and monthly payments on maxed out cards are often the highest. It can also mean you are relying too much on credit.

-Your debt is causing you stress. Losing sleep or constantly feeling stressed over your debt load is a sign you could use some help with your finances.

-You have a shopping addiction. Sometimes, spending gets out of control because of a psychological need to shop. An inability to control your urge to shop or spend money is a sign you could use help.

-You bounce checks or overdraw your account. Most people bounce a check or overdraw their accounts at one point or another. Doing it frequently, however, is a sign of serious financial trouble.

 

Whatever your situation Bromwich & Smith can help. Call Us Today! We have the financial tools to help you to start believing in your future again.

Call Us. One Convenient Number for All Alberta Offices
 1-855-884-9243 (ALBERTA TOLL FREE)
Debt Solutions In St Albert - Please Call for Your Free Consultation

Local Offices Across Alberta. Click Here for Directory

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