Manitoba and Ontario - 1-800-463-8371 - Inside Winnipeg - 1-204-925-6400
Bankruptcy, Debt, Creditors, Trustees, Financial Counselling, Winnipeg, Manitoba, Canada, Kenora, Ontario

Services we provide

Trustees are expert debt consultants. In fact, Trustees are the most highly trained and educated insolvency experts in Canada. They specialize in solving personal and business financial problems. Trustees in Bankruptcy are the only professional financial advisors that are licensed by the federal government to provide insolvency solutions. Many years of training and experience are required in order to provide this level of expertise.

At L. C. Taylor & Co., we will take a look at your overall financial situation and discuss with you all of the various options that may be available to you to solve your debt crisis. We are often able to find non-legislative solutions that do not cost anything and avoid bankruptcy. For some people, the best or only solution that will assist them is either a Proposal to their creditors, or a Bankruptcy. If that is the case, we make sure that you understand the options and the process completely, before making a decision on which available solution you feel is best for you.

Trustees are qualified financial counsellors. This means we can help you with money management, budgeting, and long-term planning. This can be helpful in turning around a small problem. It is also critical in the reestablishment of your financial well-being, after your problem has been solved.

A Proposal to your creditors may be the answer to your financial difficulty. A proposal is a debt re-payment plan in which you offer to pay your creditors back over a period of time. Proposals can offer to pay either a percentage of the amount owing, or in some cases where it is possible, the entire debt. Together with your Trustee, you propose the plan to your creditors and they have the opportunity to vote on whether or not they will accept it. If they vote for the repayment plan, it is legally binding on them. There are different types of proposals available depending on the amount of money you owe. Proposals are a good solution for people who have surplus income, and a reliable source of income, or who have a lump sum of money available. They also are useful in protecting some assets. We would review your situation in detail to determine if this option would work for you.

For some people, Bankruptcy will be the best solution. “Bankruptcy” sometimes has negative connotations, but don’t let that scare you. A bankruptcy is often the most viable and practical solution to a problem. It is usually less expensive than other solutions, as well as the quickest way to get you back on your feet. By filing an Assignment in Bankruptcy, you are given the opportunity to start over, financially. There are duties and responsibilities involved, but we can help you through the process.

There are a lot of misconceptions out there, and every situation is unique. Therefore it is best to contact us to discuss your personal situation.