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.
Our Kingston 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.
Download the following forms to provide information to your F. J. Zielski & Associates advisor. The information collected will help your advisor assess your situation and steer you towards an optimal solution. Please complete the form as best you can and bring it to your free consultation. Schedule an appointment with one of our three offices in Belleville, Kingston, or Trenton. We also have a local number in Cobourg for you to call.