{"id":4242,"date":"2013-07-15T15:29:57","date_gmt":"2013-07-15T19:29:57","guid":{"rendered":"http:\/\/pierreroy-v6.triton42.com\/?page_id=4242"},"modified":"2023-07-20T00:59:13","modified_gmt":"2023-07-20T05:59:13","slug":"debt-solutions","status":"publish","type":"page","link":"https:\/\/pierreroy.com\/en\/debt-solutions\/","title":{"rendered":"Debt Solutions"},"content":{"rendered":"<section class=page-section>\n<h2 class=\"text-center super-title\">How Can I Get Out of Debt?<\/h2>\n<div class=\"container container_12\">\n<div class=grid_7>\n<p class=lead>The nature and extent of the financial problems faced by individuals are varied, thus he goes solutions.<\/p>\n<p>The causes of debt are numerous and the best solution to your financial problems depends on your unique situation. Each case is unique, it is important to assess your situation before choosing an option.<\/p>\n<p>During your free and confidential consultation, a Licensed Insolvency Trustee will evaluate your situation and explain your options. Depending on the severity of your debt problems, he will offer different solutions ranging from a simple reorganization of the budget to personal bankruptcy if necessary.<\/p>\n<p><a class=\"button red\"href=\/en\/free-consultation\/ >Request a free consultation \u2192<\/a><\/div>\n<div class=grid_5>\n<div class=\"text-center border-box box light-blue-box\">\n<h2>The main options are:<\/h2>\n<ul class=\"centered v-spaced\">\n<li><a class=scroll-to href=#budget-reorganization>Budget Reorganization<\/a>\n<li><a class=scroll-to href=#debt-consolidation>Debt Consolidation<\/a>\n<li><a class=scroll-to href=#negotiation-with-your-creditors>Negotiation With Your Creditors<\/a>\n<li><a class=scroll-to href=#voluntary-deposit>Voluntary Deposit<\/a>\n<li><a class=scroll-to href=#consumer-proposal>Consumer Proposal<\/a>\n<li><a class=scroll-to href=#personal-bankruptcy>Personal Bankruptcy<\/a><\/ul>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n<hr>\n<section class=\"page-section light-grey\"id=budget-reorganization>\n<div class=\"container container_12\">\n<div class=grid_12>\n<h3>Budget Reorganization<\/h3>\n<\/div>\n<div class=clear><\/div>\n<div class=grid_4>\n<p class=lead>For many people with financial difficulties it is still possible to rectify their financial situation without having recourse to the Bankruptcy &#038; Insolvency Act.<\/div>\n<div class=grid_8>\n<p>More often than not, they simply need to review their personal or family budget and reassess their financial priorities. With determination and good will, these people manage by themselves to turn things around and regain control of their finances.<\/p>\n<p>Often they will benefit from the advice of the trustee to find the right tools and even be directed to the appropriate resources to assist them in their endeavors.<\/p>\n<p>A very good resource on this subject in Quebec are the Associations coop\u00e9ratives d\u2019\u00e9conomie familiale (ACEF), which can provide adequate and inexpensive support.<\/p><\/div>\n<div class=clear><\/div>\n<\/div>\n<\/section>\n<hr>\n<section class=\"page-section light-grey\"id=debt-consolidation>\n<div class=\"container container_12\">\n<div class=grid_12>\n<h3>Debt Consolidation<\/h3>\n<\/div>\n<div class=clear><\/div>\n<div class=grid_4>\n<p class=lead>Debt consolidation consists in grouping all debts under one loan from a bank or other financial institution.<\/div>\n<div class=grid_8>\n<p>The advantage of this approach is to pay lower interest and monthly payments. It does not affect your credit, unless you do it repeatedly.<\/p>\n<p>For a bank to agree to consolidate your debts you must have a good credit record, which is not always the case for people with financial difficulties.<\/p>\n<p>If the bank doubts your ability to pay, they may require securities or ask you to find an endorser. It is generally not recommended to expose financially our family.<\/p>\n<p>We suggest that you start by contacting your bank or another financial institution to discuss your eligibility for debt consolidation.<\/p><\/div>\n<div class=clear><\/div>\n<div class=grid_12>\n<p><a class=\"button blue\"href=\/en\/debt-consolidation\/ >Learn more about debt consolidation \u2192<\/a><\/div>\n<div class=clear><\/div>\n<\/div>\n<\/section>\n<hr>\n<section class=\"page-section light-grey\"id=negotiation-with-your-creditors>\n<div class=\"container container_12\">\n<div class=grid_12>\n<h3>Negotiation with Your Creditors<\/h3>\n<\/div>\n<div class=clear><\/div>\n<div class=grid_4>\n<p class=lead>Sometimes, in certain circumstances it may be possible to negotiate yourself a new agreement with your creditors.<\/div>\n<div class=grid_8>\n<p>Sometimes, in certain circumstances it may be possible to negotiate yourself a new agreement with your creditors.<\/p>\n<p>You might get a reduction of debt, a decrease in the amount of interest or get a longer repayment period.<\/p>\n<p>There is a multitude of ways to obtain an agreement, but you must negotiate with each creditor individually. This solution is easier to implement when there are very few creditors. Make sure to confirm agreements in writing.<\/p>\n<p>Moreover, if one or more of your creditors do not accept to negotiate a new agreement, you could face legal proceedings and could not cope with other negotiated agreements. Should this prove to be your case, get information about <a class=scroll-to href=#consumer-proposal>consumer proposal<\/a> which has the effect of binding all your creditors if your proposal is accepted by a majority of them.<\/div>\n<div class=clear><\/div>\n<\/div>\n<\/section>\n<hr>\n<section class=\"page-section light-grey\"id=voluntary-deposit>\n<div class=\"container container_12\">\n<div class=grid_12>\n<h3>Voluntary Deposit<\/h3>\n<\/div>\n<div class=clear><\/div>\n<div class=grid_4>\n<p class=lead>In Quebec, the voluntary deposit is a measure under the Code of Civil Procedure which allows you to pay your debts in handing the court a determined portion of your income, fixed by law. The court will distribute this amount to all your creditors, in proportion to their debt.<\/div>\n<div class=grid_8>\n<p>By making deposits on a voluntary basis, you can avoid having to declare bankruptcy. Furthermore, and this is very important, you prevent any seizure of your salary if you touch one, or of your income if you work for yourself.<\/p>\n<p>Note, however, that the voluntary filing does not protect against a foreclosure or seizure of a personal automobile. Similarly, the furniture in your home can be seized if you still owe money on them.<\/p><\/div>\n<div class=clear><\/div>\n<div class=grid_12>\n<p><a class=\"button blue\"href=\/en\/voluntary-deposit\/ >Learn more about voluntary deposit \u2192<\/a><\/div>\n<div class=clear><\/div>\n<\/div>\n<\/section>\n<hr>\n<section class=\"page-section light-grey\"id=consumer-proposal>\n<div class=\"container container_12\">\n<div class=grid_12>\n<h3>Consumer Proposal<\/h3>\n<\/div>\n<div class=clear><\/div>\n<div class=grid_4>\n<p class=lead>If you want to solve your financial problems while avoiding bankruptcy, consumer proposal might be for you. It is a legal process that is used by more and more Canadians struggling with financial problems.<\/div>\n<div class=grid_8>\n<p>The consumer proposal allows you to keep all your assets and pay off your debts with one monthly payment based on your actual ability to pay.<\/p>\n<p>Once your proposal is in effect you do not have to pay all your creditors and collection procedures will be stopped, including lawsuits and seizures, thus ending the harassment.<\/p><\/div>\n<div class=clear><\/div>\n<div class=grid_12>\n<p><a class=\"button blue\"href=\/en\/consumer-proposal\/ >Learn more about consumer proposal \u2192<\/a><\/div>\n<div class=clear><\/div>\n<\/div>\n<\/section>\n<hr>\n<section class=\"page-section light-grey\"id=personal-bankruptcy>\n<div class=\"container container_12\">\n<div class=grid_12>\n<h3>Personal Bankruptcy<\/h3>\n<\/div>\n<div class=clear><\/div>\n<div class=grid_4>\n<p class=lead>When you have exhausted your options and you no longer see the light at the end of the tunnel, bankruptcy is ideal for a fresh start at a lower cost and in shortest time.<\/div>\n<div class=grid_8>\n<p>Personal bankruptcy is a legal procedure by which you can quickly erase your debts and start fresh. You will not lose all your assets, most of them being unseizable. Subject to certain conditions, you might even be able to keep your home or car.<\/p>\n<p>Once the bankruptcy is in effect you do not have to pay all your creditors and collection procedures will be stopped, including lawsuits and seizures, thus ending the harassment.<\/p><\/div>\n<div class=clear><\/div>\n<div class=grid_12>\n<p><a class=\"button blue\"href=\/en\/personal-bankruptcy\/ >Learn more about personal bankruptcy \u2192<\/a><\/div>\n<div class=clear><\/div>\n<\/div>\n<\/section>\n","protected":false},"excerpt":{"rendered":"<p>How Can I Get Out of Debt? The nature and extent of the financial problems faced by individuals are varied, thus he goes solutions. The causes of debt are numerous and the best solution to your financial problems depends on your unique situation. Each case is unique, it is important to assess your situation before [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":7419,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"page-full.php","meta":{"_acf_changed":false,"footnotes":""},"class_list":["post-4242","page","type-page","status-publish","has-post-thumbnail","hentry"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Debt Solutions: How Can I Get Out of Debt? - Pierre Roy &amp; Associ\u00e9s<\/title>\n<meta name=\"description\" content=\"Even if you are struggling with complicated financial issues, it does not mean that there are no solutions to your situation. 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