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Make a commitment to yourself. Declare that everything is under control and that tomorrow really is a new beginning™.
If you are experiencing financial stress, our Licensed Insolvency Trustees at D. & A. MacLeod Company Ltd. can assist in helping you find a solution that meets your unique circumstances. We understand that debt collection letters, collector phone calls or doorstep visits, and legal actions can cause stress, sleeplessness and unrest.
When you are experiencing financial difficulties, it is important to look closely at the options you have and to understand each one. If financial relief entails debt or credit counselling in Ottawa or Eastern Ontario, our professionals will discuss possible solutions and your situation may be easier to recover from. In extreme situations of personal financial distress, the primary means of resolving problems with debt is personal bankruptcy or a consumer proposal. Each of these options is described briefly below and can be discussed in detail with one of our professionals at D. & A. MacLeod Company Ltd.
Debt consolidation is the combining of several unsecured debts (e.g., credit card debt, student loan) into a one new loan with more favourable terms than the individual loans.
If you are in need of debt or credit counselling in Ottawa and Eastern Ontario, we will provide personalized counselling services which include basic education on financial management. This counselling guides and supports you in managing debt yourself.
Personal bankruptcy is a legal proceeding where a person declares that he or she is unable to repay outstanding unsecured debts. You are relieved of the debt obligations incurred prior to filing for bankruptcy once non-exempt assets are realized on, which in certain situations can be paid for by the bankrupt during this process, or sold and used to pay a portion of outstanding debt and all legal obligations that come with bankruptcy are met.
A consumer proposal is a legal proceeding where you inform your unsecured creditors that you are unable to repay the total amount of your debts and propose to repay a lesser amount and/or over a longer time period. You are relieved of the debts you incurred prior to filing for a consumer proposal after your creditors agree to the terms of the proposal offered and this is paid over the required time period and fulfill the legal obligations of the consumer proposal.
At D. & A. MacLeod Company Ltd., our Licensed Insolvency Trustees in Eastern Ontario will help you to make an informed choice and decide which option is best for your particular financial situation over the long-term.
Contact us today for a free consultation and to learn more about how we can help you find a new beginning™. We have eight offices across Eastern Ontario including Ottawa, Kingston, Brockville, Cornwall, Kanata, Pembroke, and Smiths Falls.