Scarborough Bankruptcy Trustees

1504 Markham Road
Scarborough, Ontario
M1B 2V9

Phone: 416-938-6733
Email: help@YanchDey.com

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

Saturday & Sunday By Appointment
Evenings by appointment

Yanch Dey & Associates are licensed Scarborough insolvency trustees with offices at 1504 Markham Road providing our clients with information and representation for:

• debt issues
• consumer proposals
• financial counselling
• filing for bankruptcy

We help people with financial issues get out of debt.

A 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!

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.