Alternative to Bankruptcy in Sherwood Park - A Proposal
A proposal is a legal process which enables you to make an offer to your creditors to modify your payments or to pay them a percentage of what you owe. A proposal allows a fresh start without going bankrupt. If you are in Sherwood Park and facing financial debts, consider the following:
Briefly the steps are:
Choose an Alberta Bankruptcy Trustee such as Alger & Associates Inc.
The Alberta Bankruptcy Trustee will help you prepare a Statement of Affairs which lists all of your assets, creditors, income, expenses and other pertinent information.
Your finances will be reviewed and the Trustee will assist you in preparing a proposal to your creditors.
After you make your proposal, most creditors are no longer able to pursue you for collection of their accounts.
Public utilities may not discontinue service.
You make your payments to the Trustee who will pay your creditors until the terms of your proposal have been met.
You will be required to attend two financial counselling sessions.
Once you have met the terms of your proposal, you will receive a document stating that you completed your proposal and you will have no further obligation for the debts covered in your proposal. Site maintained by Edmonton bankruptcy.
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Contact our Alberta bankruptcy trustees
for a free initial consultation
This site provides free information about personal bankruptcy in Sherwood Park, Alberta and personal bankruptcy alternatives in Alberta, including answers to common personal bankruptcy questions.
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