Debt Settlement vs Consumer Proposal – What’s The Right Choice For You?

The choices these days are seemingly endless but in reality the very best way to deal with your runaway debt load is to use the power of the Bankruptcy Insolvency Act (also known as the B.I.A.) to put the brakes to your debt and keep your creditors away.

And who has the power to use the B.I.A. to properly protect you, as well as help you regain your financial life? Only a Licensed Insolvency Trustee. Debt Settlement companies (as capable as they may be) are not licensed by the Federal Government to file proposals and bankruptcies like your Trustee can; therefore they are powerless to help you rid yourself of your debt problems.

Your Trustee will ensure you understand all of the options available to you, and in fact Trustees are required by law to do so. A debt settlement firm may be limited to one approach – and they likely won’t have the educational or professional background to advise you of all the options available to you.

In addition to advising you and educating you as to your options, a Trustee can immediately stop your creditors from harassing you by using the full power of Federal law (that B.I.A. again!) to protect you. We demand that your creditors cease all collection actions, garnishments and harassment. That debt settlement firm? They can make a few telephone calls but that’s about it. They have no power over your creditors. That’s because debt settlement firms are not federally licensed and have no legislative power over your creditors.

When you meet with us, you’re also protected by a strict code of ethics and a wealth of experience and education. Our licensed insolvency Trustees are licensed by the government of Canada and must follow a strict code of ethics and undergo many years of training. And that debt settlement company? No licensing and no independent regulatory body to oversee them. In fact, anyone can be a debt settlement counselor! No training required!

And what about fees and payments? You’ll be pleased to learn that Trustees are restricted by the B.I.A. in respect to what they can charge you. No upfront fees (and a free consultation) are your right and our obligation! In comparison, many of the debt settlement companies charge large upfront fees, but do not have the power to enforce a settlement on ALL of your creditors. Consequently many of these settlements fail and you end up filing for protection from your creditors with a licensed insolvency trustee anyhow.

So skip that visit to your local debt settlement firm and contact us today to ensure your debt problems vanish and your peace of mind is restored. Or request a call-back online.