Examples of Consumer Proposals

Because of COVID 19 I lost my job in the restaurant industry at the beginning of the pandemic.  I got by with the CERB payments and then I did go back to my job part time.

My shifts were almost nothing and my earnings were still much lower than I am used to. I began to miss the minimum credit card payments. I was panicking and found YanchDey, I emailed them and they responded back right away.

The trustee answered my questions and told me not to panic because I have no assets except for an older car.  The only thing creditors could do is garnishee my wages, which would not be worth them doing because my income was so low.

They put together a consumer proposal to the creditors (that was so worth it to me I could not believe it). I figured the creditors would not go for it, but my Trustee was right and they accepted the offer and reduced payments.

I have just started making the payments but I can’t believe how much better I feel. It was bad enough dealing with the pandemic and how that affected everything including my work, so not having to worry about my bills and debt is amazing.

I owed around $20,000 mostly in credit card debt and payday loans.

I didn’t want to call a Trustee because I had read “debt help” websites talk about how a Trustee doesn’t work for you. I had the exact opposite experience to what they said.

I ended up calling a couple of those “debt relief” places but they basically told me I had to do a proposal anyway which would be through a Trustee!!

Then they said they would charge my credit card an upfront fee first. Something didn’t feel right and I decided to call a Licensed Trustee as I figured I had nothing to lose.

Right away I really liked talking to the lady that answered the phone at YanchDey. She put me through to the Trustee who told me they could find a solution for me.

They even told me I did not have to be in a rush to do anything as I was not working. I wanted to get it taken care of before I went back to work and my Mom had offered to help me, so they suggested a small consumer proposal of $6,000 with no interest.

It worked out to $100.00 per month and they said when I get back to work, I can increase the payments to get out of debt faster if I wanted.

The Trustee at YanchDey did not pressure me to file anything or pay more. In fact she said they are obligated to make sure the proposal is fair to the creditors but also that I can AFFORD IT! I’m glad I trusted my gut.

I was 30 years old with a great job but never had the skills to properly manage money.

I was in debt to banks, credit cards and most importantly to my friends and family. Constantly chasing the bills from pay cheque to pay cheque and embarrassed at work with collectors constantly calling. I didn’t want my co-workers to know, but in all honesty they all knew I had debt issues.

The debt was an embarrassment and source of shame, every day I was afraid to answer the phone because I knew it was a collector.

I was looking at losing everything, my house, my friends, my job.

I swallowed my pride (if you want to call it that), called YanchDey, which was the beginning of a new life for me.

At first, I was nervous and ashamed, but the staff at YanchDey were patient, caring, knowledgeable and understanding. There was no judging or shaming.

I ended up filing a consumer proposal. I was guided every step of the way by Kelly and Lorraine. I was able to pay off all my debts and even my taxes were brought up to date.

I have begun a new life, with no more looking over my shoulder. If this sounds like you, I highly recommend using YanchDey. Turned my life around.  Thank you Kelly and Lorraine.

I was buried in credit card debt and didn’t want to ask for help.

My friend pushed me to see someone, that’s when I picked up the phone and called YanchDey. After months of stress and anxiety – one meeting with them felt like a warm hug.

Before I knew it, I was signing consumer proposal documents with Kelly and paying my bills and had a plan to get out of debt in 3 years.

I am so lucky I came to YanchDey, the process that I thought would be like nails on a chalkboard was like a weight lifted off my shoulders. I admit there were some bumps in the road, but I feel like a new person – one who can pay their bills.

After I separated from my husband, I owed 42,000 dollars in credit card debt. Together the debt that we had accumulated was manageable, but I couldn’t afford to keep up the payments on my own.

Having two children and I was scared about being on my own as a single mom and having this debt.  Read More >

It was hard to admit, but I had a gambling problem.  I maxed out my credit cards to $42,000 dollars.

Although I had a good job, with my other bills there was no way I was going to be able to pay this off.  Just the interest was hundreds of dollars per month.

Finally I knew I had to do something.  I called and met Kelly Dey and laid it out for her.  Kelly was supportive and non judgmental in anyway.

She laid out the solution to my debt and explained how she would help me along the way.

Kelly and I put together a consumer proposal that was affordable to me, with a plan to get me out of debt in 5 years.  The $42,000 was reduced to $15,000 with a monthly payment of $250.

The stress relief was wonderful, I felt I could live again and there was a future for me.  The hardest part was making that first call, but it was the best thing I could have done.  Many Thanks, V.Bennett Scarborough.

I had assumed that if I didn’t pay my debts in full and looked at any kind of bankruptcy or proposal that it would affect my job.

The employee assistance program at work told me there was help available and I’d be ok at work, that my employer wanted me to get help and resolve my financial and debt issues. Read More >>

Our objective is to provide impeccable service, to listen to your concerns, and provide financial solutions.

We have six (6) offices in the Toronto GTA and Durham Region and we invite you to give us a call.

We know how to stop collection calls, wage garnishment and get you out of debt.

Our firm of licensed insolvency trustees cares about helping people with financial issues.