Cobourg Consumer Proposals

Cobourg Consumer Proposals

Consumer proposals help Cobourg residents reduce debt, stop interest, and make one affordable monthly payment without losing assets.

YanchDey | Licensed Insolvency Trustees

Licensed Insolvency Trustees

410 Division Street 2nd Floor
Cobourg, ON K9A 3R9
Phone: 905-372-4744

Email: help@YanchDey.com

Hours
Monday to Friday
09:00 AM – 05:00 PM

Saturday & Sunday and Evenings by appointment

Bankruptcy & Insolvency Trustee Kelly Dey
Insolvency Trustee Kelly Dey

Start Your Consumer Proposal Today | Call 905-721-7506

Why Cobourg Residents Choose Consumer Proposals

Consumer proposals are the most popular debt relief option for people in Cobourg because, the proposal gets you out of debt without upfront costs to you.

Consumer proposals let you reduce debt by 70%, stop garnishments, stop interest payments, and keep all assets.

Cobourg residents choose consumer proposals because they:

  • Cut total debt by up to 70%
  • Stop all interest, collections, lawsuits, and wage garnishments
  • Consolidate every debt into one affordable monthly payment
  • Let you keep your home, car, and RRSPs
  • Provide predictable payments for 3–5 years with no surprises

Consumer Proposals are Safe & Trusted

With rising living costs, credit card balances, and tax debt, many people in Cobourg use consumer proposals as a safe, trusted way to regain control.

Administered by our Licensed Insolvency Trustees, the process is regulated, transparent, and designed to give you a fresh financial start.

Right away: the interest stops, the wage garnishment stops, the collection calls stop — and you get full legal protection the same day you file.

Consumer Proposal Calculator

How to Start a Consumer Proposal

A consumer proposal gives Cobourg residents a safe, affordable way to settle unsecured debt for a fraction of what they owe. It’s a government-approved program that immediately stops interest, collection calls, lawsuits, and wage garnishments the moment it’s filed.

Here’s how a consumer proposal works in Cobourg:

  • You meet with our Cobourg Licensed Insolvency Trustee to review your debts, income, and budget
  • We design a proposal based on what you can reasonably afford each month
  • Your creditors vote, and once accepted, the proposal becomes legally binding
  • You make one predictable monthly payment, interest-free, for 3 to 5 years
  • Any remaining debt is erased when the proposal is completed

Why Creditor Accept Consumer Proposals

Creditors accept most consumer proposals in Cobourg because it gives them a better financial return than forcing collections or pushing someone overwhelmed with debt into bankruptcy.

A successful proposal allows them to recover a portion of what’s owed, while avoiding the cost, delay, and uncertainty of pursuing legal action. This makes a proposal a practical, win-win solution — you get protection and relief, and they get a predictable repayment plan.

Why This Matters for You

In many cases, creditors prefer a consumer proposal because it offers steady monthly payments, no additional interest, and a faster resolution than other collection methods.

At the same time, you benefit from powerful safeguards such as an immediate stop to wage garnishments, protection of your assets, and the chance to replace overwhelming debt with one affordable payment.

Together, these advantages create a process that feels simple and stress-free, helping you regain control of your finances and move toward a secure future.

How Consumer Proposals Work in Cobourg

A consumer proposal is one of the most effective debt relief solutions for people living in Cobourgbecause it lets you reduce your debt, protect your assets, and stop all interest immediately.

  • Cobourg residents choose consumer proposals because they:
  • Reduce debt by up to 70% and freeze all interest
  • Stop collection calls, lawsuits, and wage garnishments overnight
  • Allow you to keep your home, vehicle, and RRSPs
  • Combine all debts into one low, affordable monthly payment
  • Provide a predictable 3–5 year repayment plan with no hidden fees

These benefits make consumer proposals the most flexible and protective debt relief program available in Ontario.

Benefits: all debt is reduced by 70%, you have one lower payment, payable over 5 years without any further interest charges.

What You Can Include in a Consumer Proposal

A consumer proposal is a practical option for people in Cobourg who are juggling different kinds of unsecured debt and want one simplified, affordable solution.

Instead of dealing with multiple lenders, high interest rates, and constant collection pressure, your Cobourg Licensed Insolvency Trustee combines everything into one monthly payment that fits your income.

Debts for Consumer Proposals

Cobourg residents typically include debts such as:

  • Credit cards and lines of credit from local banks and credit unions
  • Personal loans, overdrafts, and consolidation loans that didn’t work out
  • CRA tax balances, which are a growing issue for many people in Durham Region
  • Old bills and collection accounts from telecom, utilities, or medical expenses
  • Payday loans and high-interest instalment lenders common in Cobourg plazas
  • Student loans older than 7 years, which many younger Cobourg residents struggle with

All of these debts are rolled into one interest-free payment that reflects what you can realistically afford.

Our Cobourg team handles the entire process for you, making it easy to understand exactly what’s included and how much you’ll save.

Why Work With YanchDey & Associates (Cobourg Office)

Cobourg residents choose YanchDey & Associates because our local team makes the consumer proposal process clear, supportive, and affordable from start to finish.

With more than 25 years of experience helping people across Durham Region, we understand the financial challenges unique to Cobourg — rising living costs, tax pressure, credit card dependence, and the stress of trying to stay ahead.

Cobourg Consumer Proposal Help

Working with our Cobourg office means you get:

  • Local Licensed Insolvency Trustees who know the community and the courts
  • A friendly, private consultation that explains your options in plain language
  • A proposal designed around your income, your household, and your goals
  • No upfront fees and one predictable monthly payment you can afford
  • Immediate protection from wage garnishments, collection calls, and legal action

We’ve helped hundreds of individuals and families in Cobourg regain control of their finances through consumer proposals that reduce debt and protect assets. Our team is committed to honest advice, personalized solutions, and a stress-free experience from the moment you call.

Make that Call Today!

Cobourg Insolvency trustees for Bankruptcy & Consumer Proposals

Kelly Dey Cobourg Insolvency Trustee

The hardest part is making that first call. With over 25 years of experience, we’ve helped thousands of people who felt overwhelmed about their debt. Almost everyone says the same thing after speaking with us: “I wish I had called sooner.”

Your consultation is friendly, confidential, and completely free. We’ll review your situation, show you exactly how much you can save, and outline a payment that fits your household. Most clients feel real relief after just one conversation.

Call our Cobourg office today at 905-721-7506 and take your first step toward becoming debt-free.

FAQs Consumer Proposals

Q. How do I start a consumer proposal in Cobourg?

A. Getting started is simple. You can book a free consultation with our Cobourg office on Simcoe St. N, and we walk you through your options in plain language.

We review your debts, income, and expenses to determine what you can afford, then prepare the proposal for your creditors. Most Cobourg residents are surprised to learn they can begin the process the same day they contact us, and get immediate relief from collection pressure.

Q. Will a consumer proposal stop a wage garnishment from an Cobourg employer?

A. Yes. A consumer proposal stops all wage garnishments the moment it’s filed—whether your employer is a local business, a manufacturing plant, a dealership, Durham College, Ontario Tech, Lakeridge Health, or any other Cobourg employer.

We send legal notice directly to payroll so the garnishment stops right away, usually before your next paycheque.

Q. Do creditors in Cobourg usually accept consumer proposals?

A. Very often, yes. Creditors accept proposals because they know they will receive more money through a proposal than if they continue collections or force bankruptcy.

In Cobourg, we see especially high acceptance rates because major creditors—banks, CRA, credit card companies, finance companies—are very familiar with the process. As long as the payment is reasonable based on your income, approval is likely.

Q. Can I include CRA tax debt in my consumer proposal?

A. Yes, and many Cobourg residents do. CRA tax debt—whether from employment, self-employment, HST, or penalties—can be rolled into your proposal.

Once filed, CRA must stop all collection actions, including frozen bank accounts, garnishments, and interest charges. This makes consumer proposals one of the most effective solutions for tax-related stress in Durham Region.

Q. How fast will collection calls stop in Cobourg?

A. Usually the same day. As soon as your proposal is filed, all collection agencies must legally stop calling, texting, emailing, and mailing you.

Our Cobourg office immediately notifies your creditors and collection agencies, which often stops the calls within hours. Many people tell us it’s the biggest relief they’ve felt in years.

Q. Will I have to give up my car or home in a consumer proposal?

A. No. In a consumer proposal, Cobourg residents keep their home, vehicle, RRSPs, and personal belongings.

This is one of the biggest reasons people choose a proposal instead of bankruptcy. Your assets remain yours, and we design the proposal so that your monthly payment fits your budget without risking your housing or transportation.

Q. How much does a consumer proposal cost in Cobourg?

A. There are zero upfront costs. Your monthly payment already includes all fees set by federal law.

We calculate the payment based on what you can reasonably afford given Cobourg’s cost of living, typical household expenses, and your income. There are no hidden charges, no interest, and no penalties for paying it off early.

Q. How long does a consumer proposal take to complete?

A. Most people in Cobourg complete their proposal in 3 to 5 years.

The exact length depends on the monthly payment amount you’re comfortable with. You can pay it off faster if your income increases or your situation improves—there are no early repayment penalties. Once completed, all remaining included debt is permanently erased.

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As one of Cobourg’s oldest and most reputable firms for consumer proposals, personal bankruptcy and business bankruptcies we help people get out of debt and assist with financial issues.

We are conveniently located on Covert Street, just west of Division Street, north of Hwy 2 in Cobourg, ON.

Yanch Dey Bankruptcy Trustees
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Charles Pepin
15:51 25 May 18
Hello Kelly, Thank you for taking the time to explain the differences between bankruptcy and a consumer proposal. You made me feel very comfortable and at ease knowing I can make this work, and turn around my financial future and I really appreciate that.
Leeza V
09:05 08 May 18
Thank you !! I feel like a new person. I can finally sleep again after years of stressing about bills. The Trustee and staff at Yanch, Dey could not have been more helpful or given me a better solution!
Lane Carter
22:42 16 Apr 18
We were referred to you by our banker who said we would not go wrong choosing your firm. You have been compassionate and helped us along the way. It has been a long time and we are looking forward to a new beginning.
walter clare
15:20 10 Apr 18
I work with individuals, couples and families dealing with addictions and recovery. Over the years I have referred, many clients to Yanch Dey in order that they might get their financial affairs in order. The people at Yanch Dey are genuinely warm and caring about the people they serve. I conduct follow up interviews with all my referral clients. Without exception they express their deepest appreciation for the way they were treated. They are especially pleased with the results from their having been able to restructure their financial affairs. I do not hesitate to give Yanch Dey my highest recommendation.
Debbie C
17:41 04 Apr 18
Excellent customer care. Meeting set up very quickly, negotiated with my creditors resulting in me paying almost 1/2 of what I owed, taking me quickly out of debt. Have recommended friends and family to them and would do so again.
Darlene Allen
12:06 04 Apr 18
Yanch& Dey Associates I was very pleased the way they handled the negotiations with my creditors. I ended up paying a fraction of what I owed on my debt and had it payed off less then I expected.A few of my family members were in the same situation as me and were so happy with their outcome I find they have very good negotiating skills.YOURS TRULY D.A.
Ron Henderson
14:31 30 Oct 15
I would definitely recommend James Yanch and his staff. They were very kind and professional when handling my bankruptcy. My wife and I met with a few trustees and were very happy to find this office. We appreciate all their help.
Susan lee
04:59 03 Dec 14
GREAT SERVICE! We would HIGHLY RECOMMEND your firm to anyone! Thank you Jim, Brenda and staff. We are now headed in a positive direction again. You helped us understand our options and get our lives back on track.Susan & Trevor
Heather Marie
01:14 28 Nov 13
Mr. Yanch - I want to thank you for helping my husband and myself through this difficult process. We recently recieved our discharge and already things are improving for us. You were referred to us by a family friend and now we know why. You and your staff provided the compassion and understanding that we needed. Many thanks, H & R
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Serving Cobourg Communities With Trusted Consumer Proposal Support

Our Cobourg office proudly helps individuals and families across the entire community access trusted, government-regulated debt relief through consumer proposals. Whether you live in the historic core, a quiet residential street, or a growing subdivision, our team provides the same confidential, supportive service and focuses on building a realistic plan that fits your financial situation.

We work with clients throughout Cobourg, including residents in Downtown Cobourg and the waterfront area, where rising living costs, rent increases, and credit card balances are common pressures, as well as the East End and Burnham Street neighbourhoods, where families often manage mortgages, vehicle loans, and household expenses alongside everyday debt. We also assist people in the West End and areas around King Street, where unexpected life events, job changes, or health costs can quickly create financial strain.

Many of our clients come from Dalewood, Sinclair, and Marsh Creek, established neighbourhoods with a mix of retirees, working professionals, and long-time homeowners looking for stable, affordable monthly payments, and from New Amherst and surrounding newer developments, where growing families may be dealing with student loans, lines of credit, or CRA tax balances.

No matter which part of Cobourg you call home, our Licensed Insolvency Trustees can help you understand whether a consumer proposal is the right solution and explain your options clearly, without pressure or judgment. We understand the financial realities facing Northumberland County residents, and we’re here to guide you with experienced, compassionate support that puts you back in control.

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Cobourg-Bankruptcy-Trustee
Call 905-721-7506