Can’t keep up with your credit card loans? We have a debt relief solution to help you start your life fresh.
Harris & Partners Inc. is a leading provider of consumer proposal and personal bankruptcy services in the Greater Toronto Area. We have helped many individuals and families over the years get their lives back on track. Talk to one of our debt management experts and get timely help.
How Filing for Bankruptcy Provides Debt Relief
Filing for bankruptcy is one quick way for individuals who can’t pay their loans to get debt relief. Once bankruptcy is declared, you will get legal protection from your creditors and the harassment will stop.
The first step is to meet with a Licensed Insolvency Trustee and Restructuring Professional at Harris & Partners Inc. who is qualified and licensed by the federal government to administer the bankruptcy process. The trustee will evaluate your financial situation, educate you about how bankruptcy works and guide you through the process, including filing the paperwork at the Office of the Superintendent of Bankruptcy Canada (OSB). Once this is done, the creditors are required to deal directly with the trustee.
Filing for bankruptcy is a legal process with certain ground rules:
Securing Debt Relief through a Consumer Proposal
A consumer proposal is another debt relief solution that can help deal with your financial situation. Your credit card company and Canada Revenue Agency (CRA) are open to a fair consumer proposal if you are experiencing problems paying them back. You can work with one of our experienced Licensed Insolvency Trustees at Harris & Partners who will determine your eligibility, negotiate with your creditors and file the documents on your behalf at the OSB.
A consumer proposal is an offer made by debtors under the Bankruptcy and Insolvency Act (BIA) to modify their payments to creditors. Debtors may propose paying a lower amount each month over a longer period of time or paying a percentage of what they owe (sometimes as low as 25%). This proposal must be completed within 5 years. Certain rules apply such as:
The benefit of making a consumer proposal is that you will stop accruing interest, achieve lower payments and negate further legal action from creditors. In addition, it doesn’t carry the same stigma as a bankruptcy, and it is better than a bankruptcy for your credit.
The highly qualified and experienced team at Harris & Partners Inc. offers its debt management expertise to help resolve your financial troubles. Whether it is personal credit card loans or a business-related debt, we help find the right debt relief solution to help you start over. Meet with one of our debt management experts in Toronto to get started; we operate several offices to serve you better.
Find a Harris & Partners Inc. location near you. We have offices across the Greater Toronto Area in North York and Markham, as well as in Brampton, Barrie, Oshawa, Pickering, Brantford, Hamilton and St. Catharines. We also serve customers in Mississauga, Oakville, Vaughan, London, Kitchener and Waterloo.
Do you have any questions that you would like to discuss with our professional trustees? Fill out this form with as much information about your situation as possible. Or you can call Harris & Partners at 1-800-268-8093.