Canadian Consumer Proposal Success Story
Video Transcription – Wendy’s Story
My name is Wendy and I filed a consumer proposal in 2009, and at the time despite what I thought of as good financial awareness, my bills just got ahead of me and before long I was using lower interest account credit cards to pay off higher ones and that type of thing, and I realized I was in trouble. So I was embarrassed but I went to see a Trustee and he told me there are lots of scenarios like this.
How a Licensed Insolvency Trustee was able to Help Wendy
The first thing he told me is that this is a very common situation, and that the majority of his clients are perfectly responsible people, so I felt less embarrassed. We were able to work out a proposal for the creditors; a payment plan of five years duration which I completed early and now I’m credit card debt free!
At what point should you think about seeing a Trustee?
At what point should you think about seeing a Trustee? Well probably as soon as you start thinking about seeing a Trustee. There’s no risk in seeing one. The Trustee can give you the true information on how to deal with your debts. If you find you’ve been borrowing from Peter to pay Paul, not getting ahead on your debts, that kind of thing. Keeping up with the payments in a sense but your borrowing from one account to pay for another. Those are signs that you should probably do something about it, and also when optimism just isn’t helping anymore.
How can Bankruptcy Canada Help?
Bankruptcy Canada have helped thousands of Canadian’s find a local trustee. We can help you like we helped Wendy, For more information please e-mail a bankruptcy question to our team.