LCTaylor, Licensed Insolvency Trustees, has been serving Winkler for 30 years. In that time, we have helped hundreds of people from Winkler and the surrounding area with their debt problems.
As the largest city in the area, Winkler is the shopping and retail centre of the Pembina Valley region. Winkler is also a culture, entertainment and recreation hub thanks in part to its large immigrant population. The city’s rapid population growth is exciting and has boomed along with a dramatic increase in demand for new industrial space, but opening businesses and settling into a new community come with risk and expenses that can sometimes lead to problem debt.
Surrounded by rich, productive farmland, Winkler has one of the strongest and most diverse agricultural sectors in the Province. The strong agricultural economy has been a great boon to the area and the Province, but as is the nature of agriculture, bad weather and crop failures can also result in issues with debt.
As Licensed Insolvency Trustees in Manitoba, our goal is to educate consumers about all of the options available when facing serious financial problems. It is important to us that we find the most honorable solution to each person’s problem. The solution that works for them and their creditors.
LCTaylor offers a team of reputable and experienced debt experts, licensed by the Canadian Government to help you with everything from debt management / credit counseling, debt consolidation, Bankruptcy and Consumer Proposals.
Consumer Proposals in Winkler
For people with unmanageable debt, who possibly cannot pay their full debt, but want to pay at least a portion of what is owed, a Consumer Proposal is the number one option. It provides all of the same protections as provided by a Bankruptcy, but allows you to make affordable payments to your creditors over a period of time. Using the expertise and experience of your Licensed Insolvency Trustee, the debtor makes a proposal to their creditors for a settlement of their debt. Generally, the debtor pays either all, or an affordable portion of the debt, over an appropriate period of time. In return, the entire debt is eliminated, regardless of what percentage of the debt was paid by the proposal. In most cases, the Consumer Proposal will last longer than a Bankruptcy, with five years being the maximum period of time allowed.
Once accepted by the creditors, the Consumer Proposal is binding on all creditors, interest and penalties are frozen, and all collection efforts, including garnishments are stopped. Note: This is only true of a formal Consumer Proposal under federal legislation, and administered by a Licensed Insolvency Trustee. An informal proposal, led by a credit counseling agency or a debt consultant does not have any of the legal protections offered by a formal Consumer Proposal.
There are many considerations involved in filing a Consumer Proposal in Manitoba. LCTaylor can help you decide if this financial solution is right for you.
Bankruptcy in Winkler, MB
Sometimes the best option for dealing with debt is filing personal Bankruptcy. Personal Bankruptcy allows debtors to start fresh, and it is usually the quickest way to eliminate debt. How assets are dealt with in Bankruptcy is determined by provincial legislation. Most essential assets are protected from seizure by this legislation, but it all depends on what the asset is, who has security on it, and how much equity there is in the asset. Farmers have special exemptions, allowing them to operate the farm, even when bankrupt.
Every situation is unique, however. At LCTaylor, we will be able to define more precisely which assets are exempt and how the exemptions apply in your particular situation. Read more about Bankruptcy services in Manitoba.
Give us a call to set up a free consultation. Getting complete information before you make a decision is critical to making the right decision for you and your family.
Credit Counseling & Other Debt Services
LCTaylor offers a full array of options including free consultations, credit / financial counseling, Consumer Proposals and Bankruptcy, providing the best possible solutions for your individual situation and values. Our Licensed Insolvency Trustees and all of the debt options that we have available, set us apart from other credit counseling and debt agencies, making us your best choice for getting out of debt.
Whether you have poor credit, are having difficulty making ends meet, or are troubled by calls from collection agencies, LCTaylor can help with your financial problems. We can help you find a solution that works for you and our family. GIve us a call today.
Call LCTaylor for Debt Help in Winkler
Call now for a free consultation: 1-800-463-8371. We are here to help you with your debt problems in person or virtually
