YanchDey & Associates
Uxbridge Bankruptcy & Insolvency Trustees
Uxbridge Bankruptcy Trustees
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What’s a Consumer Proposal?
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.
- 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
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 Bankruptcy
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.
Speak to an Insolvency Trustee
As one of Uxbridge’s oldest and most reputable bankruptcy trustees, we help people get out of debt and assist with financial issues.
We are conveniently located at 2 Brock St. W. Uxbridge.
1 week ago
★★★★★ Was given a notice of garnishment, called Yanchdey same day and got it dropped for me 10 days later, saved me about 19k on my credit card!
3 weeks ago
★★★★★ The credit card interest and my debts kept growing. We finally made the call, which was the hardest part. We are saving over 20,000 and will be out of debt in 3 years! Highly Recommend
2 months ago
★★★★★ I called thinking I’d be filing for bankruptcy, instead I saved over 35k in debt. I’m in a consumer proposal, and avoided the bankruptcy. The stress is gone, this was life changing for me, thanks again and again!
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