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Who will listen to me if I have questions about excessive debt
August 30th, 2016
The 2016 Summer Olympics just ended. The overwhelming theme heard during Olympic athlete interviews s is that they could not have reached this level of competition without the support of family, friends and world class coaching. The support is even more important in moments when they failed, were injured or did not meet expectations.
Everyone needs support, no matter what they are trying to accomplish. If you are going through a rough financial patch and find yourself juggling too much debt, you need to turn to someone who can provide timely advice and solutions so that will get you back on track. Where do you go when family and friends aren’t able to help? Who can you turn to?
If your financial house is in order, you don’t feel the need to ask for advice before something goes sideways. If you hit a bump in the road such as a job loss, serious health issue or marital problems or you are just carrying too much debt, you may be left without any support. Many will attempt to muddle through and try to make minimum payments until the collection calls start. Then they feel like they are at a dead end. They hit the wall. Not to worry, all hope is not lost. You can hit the restart button.
A Doyle Salewski Licensed Insolvency Trustee (“LIT”) is a trained professional.Our job is to put all of the pieces of the puzzle together and lay out the options. It’s much easier to make a decision about how to deal with excessive debt once you have a clear picture and understand what the options are and how they will affect your situation going forward.
If faillite is the most suitable option, most can afford to keep paying their mortgaged homes and financed vehicles. Many items are exempt from seizure, even in faillite, including some vehicles (Ontario), basic furniture and investments such as RRSPs and some life insurance policies. A person will not lose their employment only because they are bankrupt.
Bankruptcy will always have some stigma attached to it because many do not understand how it may affect them. Each person must find what works for their situation. The worst thing to do is to ignore the problem and hope it goes away. Like an ostrich hiding its head in the sand. At Doyle Salewski, we will meet with you at no cost, listen to you carefully and make certain you understand the options and how to manage your debt. Only then will we recommend a consumer proposal or faillite when it is the most effective option.
If you are burdened with debt stress, asking for sound advice is a sign of strength and the smart thing to do. Asking sooner rather than later is always better. Try our debt reduction calculatrice and call Doyle Salewski today for your free, no obligation consultation. You’ll be glad you did.