Debt Relief in Perth
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Originally a military settlement, then a resource hub, and now a quaint town in Eastern Ontario, the colourful origins of Perth are matched by its equally colourful history. With much of its downtown core straddled by waterways, it’s no surprise that some of the bridgework in Perth dates back to the 19th century. The town’s architecture maintains a distinct, “heritage” aesthetic, with the Town Hall itself having been declared a national historic site in 1984. Mason work of Scottish immigrants can still be found in Perth today, a feature it shares with its namesake city of Perthshire, Scotland.
A place of great financial and military capital in the Ottawa Valley for many years, Perth was eventually overtaken by Ottawa as the centre for commerce and politics in the region. But that didn’t stop Perth from making headlines with some of its “biggest” achievements, including a 22,000-pound wheel of cheese made from 10,000 cows. Dubbed the “Mammoth Cheese”, this proud display of Canadian dairy farmers travelled more than 1,000 kilometers to appear at the 1893 Chicago World’s Fair. As well preserved as the local masonry, a piece of the Mammoth Cheese can still be found on display to this day. Being home to Canada’s “Last Fatal Duel” and the burial site of award-winning show jumping horse Big Ben has made Perth popular with tourists, but its charming people and historic beauty have kept Doyle Salewski a proud member of the community since 1998.
Consumer proposals are one of the financial solutions we offer here at Doyle Salewski. Speaking to one of our Licensed Insolvency Trustees can give you an understanding of what a consumer proposal can do to help your personal financial situation. If the amount of money you currently owe is too much for you to pay back in full, you may benefit from signing a consumer proposal. Doing so can give you the opportunity to have reduced payments, based on an agreed upon amount by you and your payees.
A Licensed Insolvency Trustee can sit with you to discuss your individual situation in order to provide you with a personalized plan. They will look at your current budgetary requirements to establish what the lowered rate can be, and present the proposal. Your trustee is responsible for mediating the agreement between both parties, so the terms are laid out clearly to be understood and accepted by all who are involved.
What you should know about Consumer Proposals
In order to proceed with the process of a consumer proposal, you must be prepared to:
- Outline each detail of your current financial situation
- Provide realistic goals, and work to achieve them
- Ensure each payment is made diligently
- Reduce unfavourable spending habits
There are also government mandated regulations set before proceeding with a consumer proposal. These include:
- Money owed amounting to less than $250,000, and are unrelated to your home’s mortgage payments
- Joint funds owed amounting to less than $500,000
Should you have more than $250,000 to pay back that is not connected to your mortgage payments, speak to one of our Licensed Insolvency Trustees about whether a Division I proposal is best for you.
Moving forward with a Consumer Proposal
If you are able to commit to each of the above, you can understand the basics of what is needed, and should speak to a trustee at Doyle Salewski Perth to find how a consumer proposal can help you. Doing so will help you know the timeline that you can expect for your payments to be complete, as well as the new amount you should expect to owe.
Those who are currently employed do not need to worry that their source of income being affected by a consumer proposal. This means that if you see an increase in your income after the proposal has been agreed to, you will not be expected to increase your monthly payment amount. Anyone who can still afford to make some sort of payments should consider a consumer proposal, as you will be able to budget yourself while working on becoming financially stable.
By coming to the counsellors at Doyle Salewski Perth, you are seeking out help from people who will provide you with the compassion and respect you deserve. We want you to feel comfortable with trusting us for assistance with your finances, which is why all of our conversations are confidential. We also provide you with debt-free options unique to you, your budget, and your financial situation. For more information about credit counselling in Perth, continue reading:
What to Expect at a Credit Counselling Meeting
From our first meeting with you, we take the time to learn the specific details of your financial situation so we can determine which options will be best for you. All of our solutions are made to fit your personal circumstance, so you can be assured that all of your suggested options are tailor-made for you and your budget.
Contacting Doyle Salewski Perth for a consultation is the first step you need to take in order to sort out your financial distress. You will be given all of the tools and guidance needed in order to take control of your finances.
Why You Should Choose Us for Your Credit Counselling Needs
Everyone’s financial hardship is different, which is why each solution we offer is distinct from person-to-person. The counsellors at Doyle Salewski can provide you with a detailed outline of the best solution to your situation. Each one will have your current deficit, budget, and goals in mind, to ensure you are reaching financial stability as soon as possible.
We can discuss possible outcomes to managing your money through bankruptcy protection, consumer proposals, or debt settlements. No matter which option you choose, a payment plan will be discussed, and a payment schedule outlined so you know what is expected.
Meeting with a Licensed Insolvency Trustee at Doyle Salewski Perth will give you more knowledge on the process of paying back the money owed. We’ll answer all of your questions and go through each step of your personalized process.
There is no one solution for regaining your financial independence. That is why when you visit Doyle Salewski Perth, you are given possible solutions based on your specific situation. Our Licensed Insolvency Trustees will ensure that the options we offer to you will fit your budget, and allow you to reach your financial goals in the timeline that works for you.
If you find yourself being unable to pay back any of what is owed, a trustee might suggest that you file for bankruptcy. There are few situations in which bankruptcy will be offered, but depending on each individual circumstance, it may be the best option. Speaking with our office is the best way to learn more about our bankruptcy services in Perth.
How to Qualify for Bankruptcy
In order to qualify for bankruptcy, the Canadian government outlines that you must:
- Owe a minimum of $1,000
- Have no other available options in order to make payments
- Not have any considerable assets at your disposal to be used as a payment method
Only if each of the above points apply to you, can you then begin to work with your Licensed Insolvency Trustee to file for bankruptcy. They will provide you with the specific details as they pertain to your case, so you have a full understanding before committing to the process.
What You Need to Know About Bankruptcy
Even if you meet the basic requirements listed above, you still might not be able to file for bankruptcy. Another important factor that dictates whether or not you qualify for bankruptcy is the source of your financial trouble. If you graduated within the past 7 years and have student loans to pay off, you will not be able to file for bankruptcy.
You will also not be entitled for bankruptcy if you have fines from court, fraud, or child and spousal support payments to make. Anyone who has financial distress as a direct cause of these can still make an appointment to speak with a Licensed Insolvency Trustee from Doyle Salewski Perth, in order to discuss other options.
Your Responsibilities After Bankruptcy
If you do meet all of the requirements set out in the process of filing for bankruptcy, you will have to agree and commit to attending two financial counselling sessions. You will also have to provide monthly income and expense statements to your trustee.
When you make an appointment at Doyle Salewski Perth, we will give you all of the knowledge you need so you can make an informed decision in becoming financially independent. Our trustees will be there from the beginning to end of your process, to ensure you have all the help you need every step of the way.
“I would absolutely recommend Doyle Salewski if you’re in debt. They are amazing and work miracles.”