Ottawa Bankruptcy Trustees

YanchDey & Associates

Ottawa Bankruptcy & Insolvency Trustees

Ottawa Bankruptcy Trustees

As Ottawa Bankruptcy Trustees, YanchDey are licensed Insolvency Trustees for Ontario. We offer debt and insolvency assistance for:

  • Bankruptcy: Whether for personal or business bankruptcy, we provide clear explanations and advice about insolvency and how bankruptcy works. We work closely with you to minimize the impact of bankruptcy while taking care of the paperwork and filing.
  • Consumer Proposals: Your debts are reduced 70% or more through a negotiated repayment plan in a consumer proposal, interest and penalties are stopped and the reduce loan is payable over a 3 to 5 year period.

As Ottawa bankruptcy trustees, our goal is to help individuals overcome financial difficulties and insolvency. We’ll give you a fresh start and get you out of debt.

The First Step is to Give us a Call.

We welcome the opportunity to speak with you, answer any questions and let us explain how we can help you.

Phone: 905-721-7506

Operating Hours:
Monday to Friday: 09:00 AM – 05:00 PM
Saturday & Sunday: By Appointment
Evenings: By Appointment

There is no cost, fee or obligation to discuss your concerns with a trustee. Contact us today!

What’s a Consumer Proposal?

Consumer proposals are a government-approved program to reduce unsecured debts, such as credit card debts, over a period of 3-5 years. This program offers the following benefits:

  • Pay a reduced amount of the debt owed: the total amount owed in a consumer proposal is reduced by 70-80%.  No interest or fees can be added and your debts are reduced dramatically.
  • Providing a structured repayment plan: the reduced amount is payable up to five years or less, with monthly payments that you can afford.
  • Allowing individuals to avoid filing for bankruptcy: consumer proposals can be a better choice for insolvency than bankruptcy.  In a proposal you do not lose possessions, and the effects on your credit rating can be less dramatic.

The payment amount in a consumer proposal is determined by your ability to pay and the expectations of creditors. The role of the insolvency trustee is to serve as the administrator of the consumer proposal and negotiate a reduced debt amount on your behalf.

Read more about Consumer Proposals >>>

Personal & Small Business Bankruptcy

Bankruptcy is a legal process that individuals or businesses in Ottawa, might consider when they find themselves unable to repay their debts. Bankruptcy is a regulated system aimed at providing relief to those facing overwhelming financial insolvency. Here’s a breakdown of what bankruptcy entails:

Declaring Bankruptcy: When an individual or business declares bankruptcy, it means they are legally acknowledging their inability to pay their debts as they become due. This declaration is made to a licensed insolvency trustee, who acts as the administrator throughout the bankruptcy process. The trustee’s role is to assess the financial situation, prepare the documentation for the bankruptcy court, and guide the individual or business throughout the bankruptcy proceedings.

Liquidation of Assets: In bankruptcy, the individual’s non-exempt assets, which may include properties, vehicles, and valuable possessions, are sold to repay creditors. However, it’s important to note that many assets, such as household items, personal property, tools of trade, and registered retirement savings plans (RRSPs), may be exempt from seizure.

Discharge & Financial Rehabilitation: The ultimate goal of bankruptcy in Ottawa is to provide individuals with a fresh financial start. Once the bankruptcy process is completed, individuals are typically discharged from their debts, meaning they are released from the legal obligation to repay them. However, it’s essential to follow all requirements and obligations outlined during bankruptcy, such as attending credit counseling sessions, providing accurate financial information, and making required payments.

Read more about small business bankruptcy >>>

Corporate Bankruptcy & Insolvency

Corporate bankruptcy, provides relief for incorporated businesses facing insolvency and financial challenges.

The process involves filing for bankruptcy under the Bankruptcy and Insolvency Act and appointing a licensed insolvency trustee to oversee the proceedings.

During a corporations bankruptcy:

      • The business’s assets are liquidated to repay creditors.
      • Certain assets may be exempt from liquidation to support essential operations.
      • The corporation seeks a discharge to relieve itself from further liability for pre-bankruptcy debts.
      • Ultimately, the corporation is dissolved, ceasing to exist as a legal entity.

Navigating a corporate bankruptcy can be intricate, necessitating professional guidance from our licensed insolvency trustees in Ottawa, and we suggest you give us a call to discuss your business.

As trustees’ we ensure compliance with legal requirements and explore potential alternatives for debt restructuring or your business recovery. Understanding the corporate bankruptcy process is vital for Ottawa businesses encountering financial distress, with our help we’ll empower you to make informed decisions about financial circumstances and determine the most suitable path forward.

With the guidance of our insolvency trustees businesses can work towards a fresh start and the possibility of future success.

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As Ottawa bankruptcy & insolvency trustees, our objective is to help individuals and businesses overcoming their debt and/or insolvency issues.

Bankruptcy & Insolvency Trustee Kelly DeyInsolvency Trustee Kelly Dey

Renewed and fresh financial starts.

As Ottawa Insolvency Trustees we understand the challenges and stress that overwhelming debt can bring. We’re dedicated to helping you navigate through this difficult phase with compassion and expertise.

Insolvency Trustees | Consumer Proposals and Bankruptcy for Ottawa

Susan C

1 week ago

★★★★★ Searched for debt relief and found the help I needed, We saved $25k and will be out of debt in 5 years. Many Thanks

Danny Demers

3 weeks ago

★★★★★ The credit card interest just kept growing, we weren’t reducing it, we considered bankruptcy. I called YanchDey and they got it dropped by $15,000, we will be out of debt in 3 years, Highly Recommend

Vicus Bennett

2 months ago

★★★★★ I called thinking I’d be filing for bankruptcy, instead I saved over 20k in debt. I’m in a consumer proposal, and avoided the bankruptcy. The garnishee was stopped, only thing I lost was the huge debt. Will be debt free in 5 years!

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Ottawa Bankruptcy Trustees

Speak to an Insolvency Trustee

Bankruptcy Trustee Kelly Dey

Questions about insolvency, bankruptcy, or would you like to learn more about a consumer proposal? Do you need advice or simply someone to talk to about your concerns?

As Ottawa Bankruptcy Trustees and Insolvency Trustees for Ottawa, have been appointed by the Federal Government to provide you with assistance. We are here to offer our professional opinions and engage in discussions about debts, personal or business bankruptcies, all at no cost or obligation.

Give us a call at 905-721-7506 to speak with me or one of our Ottawa insolvency trustees. Call and lets just have a conversation and let us answer any of your questions.

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