Discover the 5 steps to a Fresh Start. Declaring bankruptcy or filing a consumer proposal is a choice made by thousands of honest hard-working people every year. Try a fresh approach to starting over with our five easy steps to financial freedom. We are here to provide you options and a solution to a fresh start. Call today for your free initial consultation.
STEP ONE – KNOWING WHEN
If you’ve ever had money problems, you know how difficult and stressful it can be trying to sort them out. Money problems very often don’t just affect the person, but it can also affect the people around you. It is important that you shouldn’t ignore money problems and should not have to cope with the financial difficulties alone.
Unfortunately money problems don’t just go away. The longer there left alone, the bigger they become. It is important to talk to someone as soon as possible to get help to sort out your money problems. The sooner you to someone, the sooner your problems may be sorted out and your stress, anxiety and worries disappear. If any of the following signs apply in your situation, you should contact us for a Free Consultation:
- Are you using your credit cards as a necessity rather than a convenience?
- Do you use pay-cheque cashing companies frequently?
- Are you borrowing to make it to your next pay cheque?
- Are you being harassed by collection agents or creditors?
- Have your wages been garnished?
- Are you being sued by a creditor?
- Do you pay the minimum monthly amount on your credit cards?
- Are you taking cash advances from one credit card to pay another credit card?
- Was your automobile repossessed?
- Are you struggling to meet your rent or mortgage or car payment?
- Does your monthly payments to creditors (excluding mortgage) total more than 20% of your take-home pay?
- DO you and your spouse argue about money and bills?
If you answered “Yes” to any of the above questions, call us. We will discuss options to your financial problems to provide you a solution and a fresh start.
STEP TWO – KNOWING WHY
Debt is one of the biggest problems with money. Sometimes it is because people continue to spend more money than they have. At other times, it may be due to the wrong actions of others. Debt always brings much stress, anxiety and worry.
At times, money worries can become too stressful to deal with. Unfortunately money problems don’t just go away. The longer there left alone, the bigger they become. By seeking out professional help, you will be able to regain financial control.
At the time of filing the bankruptcy documents, a creditor is prohibited from contacting you, instituting or continuing any legal action against you unless they obtain permission (leave) from the Bankruptcy Court. You will be discharged from all your obligations except those under section 178 of the Act. The release from the debts is achieved by getting a “discharge” from bankruptcy.
At the time of filing a consumer proposal, a creditor is prohibited from contacting you, instituting or continuing any legal action against you unless they obtain permission (leave) from the Bankruptcy Court. Interest on the amounts owing to the creditors stops accruing at the time of filing the consumer proposal.
We will arrange for two counselling sessions during your bankruptcy or consumer proposal. The counselling will help you to discover and understand the cause(s) of your bankruptcy, which sometimes is non-budgetary. These sessions will also provide information to assist you in managing your financial affairs in the future. You must attend both of the counselling sessions in order to obtain your discharge from bankruptcy.
STEP THREE – KNOWING HOW
We make it easy for you to understand all your options and provide a solution. Call us for a free consultation for a fresh start. Freedom is near!
The steps in the bankruptcy process can be summarized as follows;
- Contact us and file the assignment in bankruptcy by signing documents at our office.
- We will notify the creditors of the bankruptcy.
- Attend two counselling sessions.
- Make payments to us while awaiting discharge, if required.
- Attend Court for the discharge hearing, if required.
- Once completed, we will issue a Certificate of Discharge.
The steps in the consumer proposal process can be summarized as follows:
- Contact us and file the consumer proposal by signing documents at our office.
- We will notify the creditors of the proposal.
- Creditors have 45 days to vote on the proposal.
- Once the Consumer proposal is accepted, you will make payments to us, and in turn we make payments to your creditors according to the terms of the Consumer proposal.
- If the Consumer proposal is not accepted, you will have to consider other alternatives.
- If you default in your payments, the Consumer proposal will be annulled.
- Attend two counselling sessions.
- Once the payments are completed, we will issue a Certificate of Full Performance of Consumer proposal.
STEP FOUR – KNOWING WHO
Doug Lee & Associates Inc, Licensed Insolvency Trustee, provides services in all matters relating to financial problems, including proposals and bankruptcies. If you need help to sort out your financial problems, we would be happy to meet with you to explore your options. The sooner you talk to someone, the sooner your financial issues may be sorted out and your stress, anxiety and worries disappear.
Douglas Lee, HB Comm, CA-CIRP has over 20 years of professional experience in the Insolvency area, having worked with a national accounting firm in Ontario and two regional insolvency firms in Victoria, BC. He is a member of the Institute of Chartered Accountants of British Columbia and Licensed Insolvency Trustee.
Our mission is to provide you a fresh start. Our team of professionals would be happy to hear from you. Please contact us with your questions or for a free initial consultation. Contact the Fresh Start BC team today!
STEP FIVE – GETTING STARTED
Our team would be happy to hear from you. Please contact us for a free initial consultation. The steps in the process can be summarized as follows:
- Contact us to arrange an appointment for a free consultation. This is the first step to gain financial control and begin a fresh start. Our approach is confidential and non-judgmental.
- Attend our office for an assessment interview. We will review your financial situation and explain what options are available and the consequences of each.
- Assist you in determining the best option for you.
- Once you decide which option is right for you, we will assist you with completing a detailed application form to commence the process.
- You will have to return to our office to either sign bankruptcy documents or consumer proposal documents.
This is the beginning of your Fresh Start!