Government Debt Relief Program

The Ontario Government has approved debt relief for Ontario residents to reduce and consolidate unsecured credit.

The debt relief applies to credit card and consumer debt including:

• bank credit cards
• department store credit
• utility bills
• unsecured loans.

This Canadian debt relief program is only available only through licensed insolvency trustees.

The government approved program is in conjunction with the consumer proposal program.

With this program a trustee acts on your behalf to have all consumer debt reduced to:

• pay only a portion of the debts owed,
  • settle all debts with the lenders
    • based only upon what the consumer can afford

Trustees are authorised to work together with the debtor (the person who owes the money) to reduce your debt.

★★★★★ When the coronavirus hit my husband was laid off, but our bills kept coming. We searched for a debt relief program and found YanchDey. We saved $18,000 and will be debt free in four years, Thank you Susan N. Oshawa

The amount repaid is determined by a proposal administrator (trustee), based upon the financial situation of the debtor.

Many people can save up to seventy (70) percent on unsecured credit, as well as:

• interest payments are stopped
• total debt is dramatically reduced
• no further late or other fees are added

The debt relief program takes your unsecured debt reduces the amount owing, payable over 3 to 5 years without interest or fees.

★★★★★ My husband was laid off during coronavirus the government relief and payments helped but we still owed.  I searched for debt relief programs and was directed to YanchDey.  The debt program was government approved and YanchDey was great to work with.  Many thanks, Susan N. Oshawa.

There are no up-front costs for the consumer proposal debt relief program.

When you file a consumer proposal, you and the trustee work out what you can afford to pay on your debt.

The insolvency trustee then takes that amount to your creditors and negotiates a settlement.

The cost of filing a consumer proposal comes out of the money going to the creditors.

There is no other fee or cost to you, most people will save thousands of dollars in debt.

★★★★★ My credit card was maxed out, then I was laid off and there was no way I could even pay the monthly minimum.  We did a consumer proposal saving me $22,000! Many thanks, Bernice Power Whitby.

The licensed insolvency trustees of YanchDey and Associates have been authorised by the Canadian Government to provide debt services to consumers.

We can explain to how to reduce debt, including the benefits, disadvantages and costs involved.  We can tell you about: