Licensed Insolvency Trustees

Advice & practical solutions for bankruptcy , consumer proposals, credit card debt, loans & financial issues.

Advice & practical solutions for bankruptcy, credit card debt, loans & financial issues.

Licensed Insolvency Trustees

As Insolvency Trustees, our job is to help people with overwhelming debt and facing insolvency.

We do this by providing advice and credit counseling, and with insolvency solutions like consumer proposals, and bankruptcy applications.

Assistance for credit card and debt relief, insolvency and wages garnishments. We invite you to learn from our website and give us a call.

Insolvency Trustees | Consumer Proposals and Bankruptcy

john lentos

1 day ago

★★★★★ When they garnished my wages,Yanchdey was informative, stopped the garnishment and showed me how to be debt free in three years. Highly Recommend!

Role of Insolvency Trustees

Bankruptcy Trustees help those facing financial hardship.  They do this by provide advice, credit counselling, and practical solutions for credit card debt, loans and financial issues.

Insolvency trustee are authorized to provide:

By law bankruptcies and consumer proposals must be filed through a Licensed Insolvency Trustee.

Filing for Bankruptcy

Licensed Insolvency Trustees administer bankruptcies in Canada.

Filing for bankruptcy is a process for individuals & businesses struggling with debt.

Under the Bankruptcy & Insolvency Act of Canada, once a bankruptcy is filed:

Where you or your business are considering bankruptcy, speak to one of our insolvency trustees. The trustee will listen to you and answer any questions.

Where you decide to proceed, we’ll walk you through all stages of the bankruptcy, including filing the bankruptcy paperwork and all forms.

In plain language, the idea behind personal bankruptcy in Canada is: In bankruptcy you assign (surrender) non-exempt assets to a Licensed Insolvency Trustee. In exchange debts are forgiven.

Surrendering assets may be upsetting, but most personal items are exempt from surrender with limits.

Consumer Proposals

Consumer proposals are a negotiated settlement of unsecured debt.

A proposal provides debt relief as an alternative to insolvency and avoids bankruptcy.

In a proposal a Licensed Insolvency Trustee negotiates a settlement for unsecured credit. Unsecured credit is bills and debt for credit cards, utility bills, loans, and income tax debt.

In a consumer proposal you avoid filing for bankruptcy, keep all of your property, while dramatically reducing your debt. The lender is paid a percentage of the debt with monthly payments

Once a consumer proposal is filed you’ll only repay a percentage of the dollar amount, (usually about 30% or less).  Payments are made over 3 to 5 years, without interest or penalties added.

Once the proposal is filed a stay of proceedings is invoked. Creditors must stop:

  • wage garnishments
  • collection calls for outstanding debts
  • legal actions or enforced collections on credit or loans

The stay of proceedings ending the stress of dealing with debt collectors, and will drop your stress dramatically.

Once the paperwork is filed all legal actions stop, including garnishments, and creditors must deal with the Trustee, not you.

In order to qualify, your debts cannot exceed $250,000.00 after any mortgages against your principal residence.

Debt Relief Solutions

  • Bankruptcy

    The government allows all secured and unsecured debt to be “stayed” in bankruptcy. Meaning all debts and collections are stopped. Read More >>

  • Student Debts

    Student loan debt forgiveness is available either through a consumer proposal or in bankruptcy, by speaking with an insolvency trustee.

  • Wage Garnishments

    Stopping wage garnishments can be done by: paying the debt, with a consumer proposal, or filing for bankruptcy Read More >>>

  • Consumer Proposals

    Consumer Proposals are:a government program to reduce & consolidate debt saving more than 70% on debt. Read More >>>

  • Credit Card Debt

    Our insolvency trustees can drop your credit card debt by more than 70% and reduce your payments without interest or penalty.  Read More >>>

  • Tax Debt Relief

    Tax debt reduced or even canceled completely, speak to our trustees to learn about taxes in a bankruptcy or consumer proposal. Read More >>>

Speak with an Insolvency Trustee Today

No Obligation Discussion of Your Finances

There is no fee to speak with a trustee.  Licensed Insolvency trustees are licensed by the Canada government, and are the only credit agency permitted to provide insolvency services.

Discuss your debts problems with us and we can answer any questions you may have.

The Insolvency Trustee can explain how they can help you get out of debt, exemptions and to rebuild your credit score.

We offer debt solutions to student loans, credit cards debt, personal debts and where you have been sued.  Consumer protection is available under Canadian law by the office of the Superintendent of Bankruptcy of Canada.

Do I need an Insolvency Trustee?

Yes. Bankruptcies, consumer proposals are required by law to be administered through an insolvency trustee. The trustee is not only required by law, but is there to assist and give advice.

As government appointed trustees we help individuals, sole proprietorship’s, partnerships, and corporations in restructuring debts and financial affairs.  We provide the tools for a fresh start, to take control of finances, your budget, and give pointers for dealing with credit in the future.  At YanchDey we get you back in control of your financial life.

Learn the differences or alternatives to learn there are options for insolvency with less repercussions.

We’ve helped thousands of people with debt and insolvencies. Our trustees work with you giving you guidance and support, while answering any questions along the way.

Experienced and Committed

As insolvency trustees and proposal administrators we have years of experience helping debtors with insolvency and indebtedness.  We are committed to helping you become debt free.

Local Neighbourhood Offices

With six (6) offices as licensed insolvency trustees we have been helping Durham Region and GTA consumers for over thirty-five (35) years.  Where you’re considering bankruptcy or debt repayment speak to the licensed insolvency trustees who know how to stop the phone calls, wage garnishments, and debt collectors from contacting you.

Licensed insolvency trustees, we’re here to help

Our licensed insolvency trustees can guide and advise you what to do.

We understand you’re relying on us with your credit, liabilities and obligations, and we take that trust seriously.  We understand that you are working to get out of debt, and we are here to help.

When you work with us, we’ll explain our part, your part, and we will work together.

Non-licensed debt settlement agencies

Don’t settle for anything but a licensed insolvency trustee.

Although you may see “come-ons” and credit agencies offering quick, easy and hard to believe solutions, buyer beware!  Only deal with a licensed trustee you know and trust.

Read our reviews and case results and see how we have helped others become debt free for today and the future.

What happens after an Insolvency?

Together we’ll go through either filing for bankruptcy or administrating a consumer proposal.  We will explain the process, complete any paperwork, appear in court, and deal with your creditors. We do everything for you.

Once the process is filed and the legal process is complete the trustee will continue to work with you.  The trustee provides continued support, feedback and deals with credit card companies and creditors.

Where wages have been garnished we’ll file the necessary applications to stop your pay cheque from being taken from you.

Our Philosophy as Insolvency Trustees

As Insolvency Trustees, YanchDey strives to provide impeccable service. We want listen to your concerns while providing a viable debt solution to you. With six (6) offices in the Toronto GTA and Durham Region, we’ve got a location close to you, and many times the whole process can be done over the phone.

Stop the collection calls, wage garnishments, and solve your debt & credit problems today.