Debt Solutions In Winnipeg: Bankruptcy, Consumer Proposal, Debt Relief

Winnipeg is known as the Gateway to the West and is proud to be a multicultural city hosting several great annual festivals. The city has an economy that is almost as diversified as its population. As in every community, there are people who are experiencing circumstances that have left them with out of control debt.

As long time local Licensed Insolvency Trustees in Manitoba, LCTaylor’s goal is to assist Manitobans in exploring all of the options available to them when facing those serious financial problems.

LCTaylor is a local Manitoba team of reputable and experienced debt experts, licensed by the Canadian Government to help you with everything from debt management/credit counselling, debt consolidation, Consumer Proposals and Bankruptcy.

Consumer Proposals in Winnipeg

Debt Help in Winnipeg Manitoba

For people looking to get out of debt while avoiding Bankruptcy, a Consumer Proposal is the number one choice.

In Canada, a Consumer Proposal is a formal offer from you to your creditors, where you agree to pay part or all of your debt over a specific period of time.

There are many advantages and disadvantages to filing a Consumer Proposal in Manitoba. Consumer Proposals can only be filed through a Licensed Insolvency Trustee. LCTaylor can help you decide if this financial solution is right for you.

Bankruptcy in Winnipeg

Sometimes the best choice for dealing with debt is to file for personal Bankruptcy. Personal Bankruptcy will allow you to start fresh, since nearly all unsecured debt is erased by the Bankruptcy. (There are a few exceptions, such as alimony and child support.)

The big difference between a Consumer Proposal and a Bankruptcy is in how your assets are dealt with. Manitoba legislation makes most assets exempt from seizure by your creditors, and this is also true in a Bankruptcy. However, if you have assets that are not considered essential (things like a pleasure boat or ski-doo), they may need to be sold for the benefit of your creditors if there is sufficient equity in them to warrant doing so. Things like pensions and RRSPs are exempt, and should not be affected by a Bankruptcy.

The Licensed Insolvency Trustees at LCTaylor 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.

Credit Counselling & Other Debt Services

Our Licensed Insolvency Trustees have been helping people in Winnipeg for more than 30 years, with our entire staff living and working in Winnipeg.

We offer a full array of options including credit counselling, free consultations, Consumer Proposals and Bankruptcy, providing the best possible solutions for your individual situation. The depth of expertise and experience that our Licensed Insolvency Trustees share, the fact that we are local, and do only insolvency work, make us able to provide in-depth information, advice and service to our clients.

Whether you can’t pay your bills, have bad credit, are having your income garnished, or are simply troubled by calls from collection agencies, LCTaylor can help you. Put simply, we help you find the right debt solution that works for you and your family.

We are available to meet you in person and virtually.