Credit counselling

If you feel you have the ability to pay your creditors in full, if only you could reduce your payment, then you may wish to speak to a Credit Counsellor about a Debt Management Plan.

Credit counselling is a not-for-profit agency that offers a Debt Management Plan, under which you will pay your creditors over an extended time period. It is a voluntary plan and therefore it is voluntary on the part of your creditors to accept it! This contrasts with a Consumer Proposal through a Trustee that is legally binding on all creditors once the required majority accepts the proposal.

Usually your creditors will waive the continuation of interest under a Debt Management Plan, however if a garnishment has begun or any other legal action has commenced it is unlikely that the creditors will accept the plan.

These downloaded forms will give your F.J Zielski & Associate advisor the information they need to assess your situation so you can make the right decision. Please complete the form as best you can and bring it to your free consultation.

Restructuring Worksheet

Statement of Income and Expenses

Income Tax Information

 

Are you a high income earner (MORE INFORMATION HERE) or do you not reside in Canada (MORE INFORMATION HERE)?