YanchDey & Associates
Oshawa Bankruptcy Trustees
Yanch Dey & Associates are your Licensed Insolvency Trustees for Oshawa. As bankruptcy trustees we provide information and representation for:
As bankruptcy and insolvency trustees, our job is to help people with financial issues in Oshawa get out of debt.
What’s a Consumer Proposal?
Consumer proposals are:
- a government approved program
- to pay creditors a reduced amount of the debt owed
- on unsecured debt, credit cards ect,
- over a 3-5 year period
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 afford to pay and creditor expectations. The amount is negotiated for you by the insolvency trustee, acting as the consumer proposal administrator.
In a proposal, most people will save about 70% of the debt owed. For example, if you owed $10,000 your debt could be dropped to $3,000 payable over 5 years. Without any fees or interest added!
Personal & Business Bankruptcies
Bankruptcy in Ontario is a legal process under the Bankruptcy & Insolvency Act.
The bankrupt agrees to surrender non-exempt belongings to the trustee, in exchange for the elimination of their debts.
Give us a call, we’ll be happy to review your issues with you, with no fee or obligation.
Read more about filing for bankruptcy >>
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.
Speak to an Insolvency Trustee
Questions about insolvency and bankruptcy? I invite you to call our office to speak to myself or one of our insolvency trustees.
We’re happy to speak over the phone or in-person at one of our offices.
Where you have questions or need some advice, please feel free to give us a call without cost or obligation.
Call us today at 905-721-7506.
We are conveniently located on Simcoe Street North at Adelaide Street in Oshawa, just south Parkwood Estate historic home of R.S McLaughlin one of the founders of GM Canada
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Consumer Proposal & Bankruptcy Categories
Oshawa Consumer Proposal & Bankruptcy Trustees