Oshawa Insolvency Trustees
215 Simcoe Street North,
Oshawa, Ontario
L1G 4T1
Phone: 905-721-7506
Email: help@YanchDey.com
Hours
Monday to Friday – 09:00 AM – 05:00 PM
Weekends & evenings by appointment
YanchDey & Associates
Oshawa Insolvency Trustees for Bankruptcy & Consumer Proposals
Oshawa Bankruptcy Trustees
How Bankruptcy Works
Bankruptcy in Ontario is a legal process under the Bankruptcy & Insolvency Act.
In bankruptcy, if you cannot pay your bills you can apply for insolvency and receive debt relief through a bankruptcy trustee, now called a Licensed Insolvency Trustees.
When a person files for bankruptcy, the bankrupt agrees to surrender non-exempt belongings to the trustee, in exchange for the elimination of their debts.
In exchange the court issues a “stay of proceedings“. A stay of proceedings means that all of your debts are forgiven, wage garnishments, legal actions are stopped and creditors are forbidden from calling or harassing you.
If your unable to pay your bills, give us a call we can offer you solutions about how we can get you out of debt!
Give us a call, we’ll be happy to review your issues with you, with no fee or obligation.
What’s a Consumer Proposal?
A Consumer Proposal is a government-approved debt relief program that helps you reduce your debt and avoid bankruptcy.
With a consumer proposal, you can:
- Pay only a portion of what you owe
- Consolidate credit into one lower payment
- Stop collection calls & wage garnishments immediately
- No added interest, penalties or fees
- You lose none of your property
Instead of struggling with overwhelming debt, our licensed insolvency trustees negotiate directly with your creditors to reduce the amount you owe and create an affordable repayment plan over 3 to 5 years.
Every situation is unique—let’s talk about yours.
Call YanchDey today for a free, no-obligation consultation and take the first step toward financial freedom!
📞 Call Now: 905-721-7506
💬 Get Expert Advice—It’s Free!
How a Consumer Proposal Works
In a consumer proposal, the proposal administrator makes an agreement with the unsecured creditors (e.g. credit card companies) to pay only a percentage of what is owed, over a 3 to 5 year period.
The payment is based upon what you can reasonably afford to pay and creditor expectations. The amount is negotiated for you by the insolvency trustee, acting for you as the consumer proposal administrator.
In a proposal, most people will save about 70% of the debt owed. For example, if you owed $25,000 your debt could be dropped to $7,500 payable over 5 years at $125/month! Without any fees or interest added!
The Role of a Bankruptcy Trustee
The bankruptcy trustees job in Canada is to assist those with insolvency and debt issues get control of their finances.
Our bankruptcy trustees in Oshawa provide counseling, bankruptcy service and use debt management tools like consumer proposals. These financial tools have help thousands of people get control over their debts.
In Canada bankruptcy trustees and insolvency trustees avoid having to appear in court, unlike other countries where insolvency laws require a court appearance and the retaining of a lawyer.
The bankruptcy trustee is licensed by the Canadian Government to administer bankruptcies and consumer proposals, the use of a lawyer is not required or necessary.
Filing for bankruptcy is done through an Insolvency Trustee who administers the bankruptcy within the rules of the Bankruptcy and Insolvency Act, including and money, property or assets held in trust.
Make that Call Today!
Kelly Dey Oshawa Insolvency Trustee
You’ve thought about it, now take the first step to being debt free.
Give us a call and lets have a conversation about your debt and how we can help you.
We offer a free opportunity to discuss your finances either over the phone or at our office. There’s no cost to learn what your options are.
We’ve helped hundred of people in Oshawa and Durham Region, and we can help you. Call us today at 905-721-7506.
