Licensed Insolvency Trustees
1135 Lansdowne Street West, Unit 10
Peterborough, Ontario, K9J 7M2
Phone: 705-876-1775
Email: help@YanchDey.com
Hours
Monday to Friday
09:00 AM – 05:00 PM
Saturday & Sunday and Evenings by appointment
YanchDey & Associates
Peterborough Bankruptcy Trustees
What’s a Consumer Proposal?
- 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.
Personal & Business Bankruptcy
Bankruptcy in Ontario is a legal process under the Bankruptcy & Insolvency Act.
In bankruptcy, individuals and businesses facing debt problems and insolvency can obtain debt relief with the assistance of a bankruptcy trustee, now called a Licensed Insolvency Trustee.
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“. Debts are forgiven, wage garnishments, legal actions are stopped and creditors are forbidden from calling or harassing the debtor.
Give us a call, we’ll be happy to review your issues with you, with no fee or obligation.
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 Peterborough 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!
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 obligation or cost to learn what your options are.
We’ve helped hundred of people in Ajax just like you. Call us today at 705-876-1775.
