Financial Stress!

What are my Options?

Do any of these situations seem familiar?

  • You’re being faced with ongoing telephone calls from your creditors harassing you;
  • You’re considering cashing in your RRSP to pay your ongoing credit card payments;
  • You’re selling your personal assets to get enough money to make minimum payments;
  • You’re borrowing money from pay day loan companies to make your minimum payments;
  • You’re making the minimum payments only on your credit card debts and don’t seem to be getting ahead;
  • You’re borrowing from a cash advance from a line of credit or a cash advance from one credit card to other credit cards; or
  • Your debt load continues to increase with no change in sight.

You’re not alone.

There are several solutions available to solve the problem.

At Boale, Wood & Company you will meet with a Licensed Insolvency Trustee (“LIT”) who will assist you in dealing with any of these situations, with a free, confidential meeting.

At Boale, Wood & Company Ltd., we will find a solution that will work for your personal circumstances and your family circumstances.

We will discuss all your financial options to be debt free and assist you in the development of a plan recommend the best the best option for you.

Ok, So What Are My Options?

At our initial meeting/assessment we will discuss all financial options to resolve your indebtedness.  Your options could be any of the following:

  1. Communicate with your creditors to find a plan to pay everybody in full. We can provide you with suggestions to communicate with your creditors;
  2. Budgeting assistance,
  3. Refinancing your current debt or Debt Consolidation,
  4. A Debt Management Program (“DMP”), provided by accredited credit counsellors,
  5. A formal proposal to your creditors (Consumer proposal or a Division 1/Commercial proposal), or
  6. Bankruptcy

As you will note, your last choice, as set out above is always bankruptcy.  However, depending on your circumstances, bankruptcy may be the best option.

We will discuss and set up a plan and financial options that will deal all of your debts including government debt owing to CRA, Student Loans.

We will discuss the protection/exemption of various assets and the interrelationship of exempt assets in B.C. (such as car with a value up to $5,000, Pensions, RRSP except contributions in the last 12 months).

We will discuss the impact of net your current net income, and how this may affect you in a proposal or a bankruptcy scenario and how surplus income is calculated.

To get more information on the options that would work best for you, call the friendly and knowledgeable staff at Boale, Wood & Company Ltd. today.

We have offices located throughout the Lower Mainland, Fraser Valley, and the Sunshine Coast.  We also serve the Yukon Territory.  We can set up a meeting face to face, speak to you over the telephone or via email.

Call us, it’s not too late.