Category: Consumer Proposals

If I make a consumer proposal or file personal bankruptcy will I be able to rent?

Making a consumer proposal or filing personal bankruptcy has a negative impact on your credit rating that may affect a landlord’s decision to accept your rental application. However, the majority of people that we deal with are renters and many of them move during the course of their consumer proposal or personal bankruptcy. Landlords, like any other creditor, are primarily…
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Do I have to pay for a referral to a trustee?

Welker & Associates offers free consultations to anyone who is looking for help with their financial situation. Some companies, however, act as consultants and a representative from the company will meet with you to discuss your financial options. In most cases, the representative is NOT a Trustee. Since Trustees in Bankruptcy are the ONLY professionals who can help…
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Is a consumer proposal right for me?

Often the most affordable option with minimal impact on your credit is a consumer proposal. Why? It will stop all collection action and allow you and your creditors to settle on an amount to pay back. You can use our Debt Options Calculator to review your repayment options and estimate monthly payments to repay your debt over a…
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In debt? Know your options.

Everyone trying to get out of debt has the same options to choose from:  Deal with creditors directly Get a consolidation loan Form a debt management plan with a credit counsellor Make a consumer proposal File personal bankruptcy Your best option needs to be both affordable and effective. Use our Debt Options Calculator to determine…
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Divorce And Debt In Ontario

When divorce occurs, household expenses essentially double, which alters your current financial situation. Separation causes major money problems regardless of how much money someone makes or how well they managed their finances while they were in the relationship. Support payments when facing financial difficulty The financial responsibility of the child(ren) falls on both parents. If you do not…
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Self-employed (sole proprietorship or partnership) and considering bankruptcy?

We recognize that every business is unique with its own issues and complexities. Therefore we recommend that you review your situation with one of our licensed trustees in bankruptcy. Deciding whether or not to continue being self-employed Filing a consumer proposal or personal bankruptcy does not prevent you from continuing to be self-employed or starting a…
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Surrendering A Secured Asset: Your Home

Some people who own their own home can’t or don’t want to keep it. Common reasons why someone might not want to keep their home are: Can’t afford the payments The house value is far less than the mortgage balance owed Marital/relationship breakdown The biggest challenge facing a homeowner who wants to surrender their home is…
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Surrendering A Secured Asset: Your Vehicle

Some people who own a leased or financed vehicle can’t or don’t want to keep their vehicle. Common reasons why someone might not want to keep a vehicle are: Can’t afford the payments The vehicle is worth far less than the total amount owed Lifestyle change When someone doesn’t want to keep their vehicle they…
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Employed And Dealing With Personal Debt

In most cases making a consumer proposal or filing personal bankruptcy will have no impact on your current or future employment. However, as an employee, there are a few things to consider before deciding which option is best for you. Threat of wage garnishment: All employees are vulnerable to creditors garnisheeing their wages. More information about protecting your…
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