Make an appointment for a confidential and free evaluation meeting
1 888 549-5642
or #4321 (cell phone)

Do you foresee financial problems in the near future?

  • Are you making minimum payments only on your credit cards?
  • Are you having trouble paying your bills at the end of the month?
  • Do you really know the exact amount of your total debt?
  • Are you using your credit cards because you  don’t have the money to cover your current expenses?
  • Are discussions about your finances creating problems in the home?
  • Are  your end of the month expenses more than you are able to pay?
  • Are you over the limit on your credit cards, your line of credit or your overdraft?
  • Are collection agencies calling you?
  • Are you considering consolidating your debts ?

 

If you answered “yes” to one or more of these questions, you could be headed for serious financial problems. So now is the time to get in touch with us.

What stage is your financial situation?

Financial problems

Late payments, tight month ends, creditors' appeals

Solutions

Act at the right time and right the situation

Trustee

Un professionnel pour vous guider

Restore your credit

A new start on a solid foundation

Live Stories


Real situations like yours and real solutions to solve it

Their situation

A few years ago, Rémi and Johanne purchased a house at a time when both of them had steady and well paid  jobs. They have two cars, one is leased and the second one is paid for but has  a low resale value.  Other than their residence with a mortgage balance that corresponds to its market value, the couple has few debts other than credit cards and a 20.000 $ line of credit .

A few months ago Johanne lost her job and she does not think she will be able to find a new one any time soon. Since then, Rémi’s earnings are not sufficient to cover monthly expenses as well as the mortgage payments on their residence. As for the credit cards , the line of credit and the leased vehicle, no payments have been made ever since Johanne lost her job.

Rémi and Johanne are getting calls from their creditors and recovery agencies asking for payments and they are afraid of losing their residence, something they want to avoid as much as possible. They decide to meet with us to find out if we knew of any possible solutions to their financial problems.

Meeting with a trustee

The meeting (free and confidential ) helps in reassuring Rémi and Johanne. After discussing and exchanging on different possible solutions ( voluntary deposit, consolidated loan, consumer proposal, bankruptcy), it is obvious that they no longer can pay their credit cards, line of credit and vehicle monthly terms, but they would like to keep their residence. They decide to declare bankruptcy  in order to solve their financial problems.

Solutions

We prepare and set a bankruptcy in motion for Rémi and Johanne the outcome of which is as follow :

Residence :
The trustee notifies the financial institution of Rémi and Johanne’s bankruptcy and of their wish to keep their residence while continuing the mortgage payments ; law allows  to keep a residence if the monthly payments are made.

Leased  vehicle :
The return of Johanne’s vehicle to the leasing company .

Furniture  in the residence :
Rémi and Johanne keep their furniture.

Credit cards, line of credit and due balance on the leased vehicle :
Creditors are notified of the bankruptcy and send their proof of claim  to the trustee.

The bankruptcy has ended the financial pressure they had to bear, they now live on a tight budget but are able to balance it and can finally get on with their life. Respecting their commitment determined according to the rules of the Superintendent of bankruptcy and by attending two consultation sessions provided for, they are released from their debts.

The consultation with a trustee helped Rémi and Johanne find a solution to their financial situation allowing them to maintain their residence and end the financial pressure under which they lived for so long.

This is of course a fictitious situation but one  we often encounter. Our approach will help you understand the pros and cons of bankruptcy and determine if this is the right solution for you.

Situation

Pierrette is a widow, her husband passed away  5 years ago, she has 5 grandchildren. Her source of income includes ; Survivors’ Benefits, Retirement Pension Plan  as well as Old Age Security Pension. She lives in a small apartment and doesn’t own a car.

Pierrette loves to take care of her children and grandchildren. One day she realises that she no longer can make the minimum payments to her creditors. She finds her situation very stressful. Furthermore, some creditors have already transferred their account to recovery agencies that will not stop calling her.

Meeting with a trustee

Pierrette decides to meet with a counsellor from Tremblay & Cie for a free evaluationof her financial situation. Pierrette is happily surprised about the team’s professionalism in making her feel at ease and not judged by the counsellor. To better understand her situation, we completed with Pierrette a questionnaire analysing her monthly income and expenses as well as her assets and bebt. The analyse completed, we discuss the possible alternatives and their consequences for Pierrette : budgetary help, consolidation, consumer proposal or bankruptcy.

Solution

Whatever the solution decided on, Pierrette  benefits from the services given by an insolvency professional who listens and helps her manage her financial situation.

This is of course a fictitious situation, but very representative of the services we offer to those experiencing budgetary difficulties.

Situation

Marc works as a representative. His base salary is not very high, but adding his commissions he earns more than 50,000 $ per year.

Marc is a happy going person. He is always ready for a night out or a trip south and  only wears the latest fashion. He spends according to his commissions, which have been quite stable each year.

He never bothered with a budget and was always able to cover his current expenses and credit card payments each month.

But this year, Marc doesn’t reach his sales objectives and his commissions are considerably reduced compared to the previous years. Marc cannot make the minimum payments required. Collection agencies have started to contact him on a regular basis.

Meeting with a trustee

Marc decides to meet with us for a free evaluation of his financial situation. In order to better understand his situation, we fill out a questionnaire to verify his monthly income and expenses as well as his assets and liabilities. The analyse completed, we discuss the possible alternatives and also the consequences they will have on Marc’s credit. Whatever the chosen solution,  Marc will have benefited from tips and advice from an insolvency professional  who  helps him  work a budget and stick to it.

This is of course a fictitious situation, but very representative of the services we offer to those experiencing budgetary difficulties.

Their situation

Pierre and Hélène, a couple in their forties, have steady jobs. They have three young teenagers.

The couple recently remortgaged  their house with a 150,000 $ loan. The mortgage almost represents the actual market value of the house making it impossible to get more from the mortgage broker.

Remortgaging did not solve all of the debt the couple had, they owed more than  50,000 $  on credit cards, both had  a  20,000 $  line of credit  used up at 100% and  leased vehicles.

Considering the extend of their indebtedness, it’s no longer possible for them to get a consolidation loan from a financial institution. In fact Pierre and Hélène do not meet the required standards for such a loan.

Also, Hélène does not need her car anymore, a payment of 400 $ a month. But returning the vehicle will result in paying a residual amount of 10,000 $, given the failure to respect the current lease.

Meeting with a trustee

After analysing the couple’s budgetary position, we realised that the maximum monthly payment possible for all the creditors, other than the mortgage and car payments, would be 500 $ per month.

Solutions

We prepare and make a consumer proposal for the couple as follows ;

  1. Continued mortgage payments.
  2. Continued payments on Pierre’s car lease.
  3. Return of Hélène’s leased vehicle.
  4. Paying a sum of 30,000 $ in a (60) sixty month period, with 500 $ monthly payments, for all other debts (about 100,000 $), such as credit cards, credit  lines and the debt resulting in the return of Hélène’s leased vehicle.

The creditors vote in favor of the proposal. Pierre and Hélène respect the terms of the said proposal and are freed of their debt. They keep their house. With a balanced budget, they can devote their entire time to their family and their work.

This is of course a fictitious situation, which shows well the type of agreement we  make on a regular basis with creditors in the context of a consumer proposal.

Ask your questions online


We are here for you

By phone :

1 888 549-5642 or #4321 (cell phone)

Posez vos questions en ligne (confidentielles) :