Bankruptcy & Consumer Proposal Help in Atlantic Canada
Understand the full picture before you make a life-changing decision.
Considering Bankruptcy or a Consumer Proposal?
If you’re feeling overwhelmed by debt, it’s natural to start looking for drastic solutions. Bankruptcy and consumer proposals are legal options that can help in extreme situations, but they’re not always the only path forward.
Before you make the call to a Licensed Insolvency Trustee (LIT), it’s worth exploring all your debt relief options. Many people who come to us thinking bankruptcy is their only choice discover alternatives that:
- Protect their credit from long-term damage
- Allow them to pay back their debt in full
- Avoid court proceedings and legal fees
- Reduce stress without the lasting financial consequences
Your first consultation with us is free, confidential and judgment-free. You have nothing to lose, and possibly more options than you think.
What is Bankruptcy?
Bankruptcy is a legal process that can eliminate most unsecured debts when you can’t afford to repay them. It’s handled by a Licensed Insolvency Trustee and can offer a fresh start, but it comes with serious implications:
- Stops collection calls and legal action
- Wipes out most unsecured debts
But also:
- Stays on your credit report for 6–7 years (even longer for repeat bankruptcies)
- May require you to surrender certain assets
- Can impact your ability to get credit, rent a home or qualify for some jobs
- Becomes public record
What is a Consumer Proposal?
A consumer proposal is a legally binding agreement, filed through a Licensed Insolvency Trustee, where you negotiate to repay part of your debt over a set period (up to 5 years).
- Can reduce the amount you owe
- Stops interest and collection activity
- Lets you keep your assets
But also:
- Stays on your credit report for up to 6 years
- Can still be costly, with trustee fees built in
- Requires majority approval from your creditors
Why Talk to Us First?
- You may qualify for a Debt Management Program that lowers interest and consolidates payments — without the legal process. It’s voluntary.
- We can help you explore budgeting and credit rebuilding strategies
- You’ll understand every option available before making a decision that impacts your future for years
- It’s 100% free, with no obligation to sign onto anything
What to Expect in a Free Consultation
We Listen:
You tell us your story in a confidential, non-judgmental, supportive space.
We Review Your Finances:
We look at your income, expenses and debts.
We Explain All Options:
This may include bankruptcy alternatives like credit counselling, a Debt Management Program, a bank consolidation loan or referrals to other community supports.
You Decide What’s Best:
Make the right decision for you with full knowledge of the pros and cons.
Real Stories from People We’ve Helped
Why Choose SolveYourDebts.com
For over 30 years, we’ve helped countless individuals and families solve their debts through expert credit counselling, budget mentoring and tailored financial education programs. As a not-for-profit organization, we always have your best interests at heart and will help you avoid bankruptcy whenever possible.
We believe our certified counsellors are the best of the best—it’s your financial future, and you shouldn’t settle for less. You can rest assured knowing that SolveYourDebts.com is committed to helping you get your finances back on track.
Before you commit to bankruptcy or a consumer proposal, know all your options.
We’ll walk you through every possibility so you can make the choice that’s right for you — for free.