Make BDO your first call for debt relief
We have been helping Canadians solve their debt problems since 1958, so we understand that financial difficulties cause stress to individuals and their families. We also know that choosing to seek professional help is a difficult and emotional decision. By making BDO your first call, you’re taking an important step towards regaining financial control. As one of Canada’s oldest and most trusted debt help firms, our government licensed professionals take the time to explain every debt relief option available to you and help you choose the right solution for you and your family.
A Licensed Insolvency Trustee will explain all your options
When it comes to debt relief, many fear that bankruptcy is the only option, which could stop them from seeking help. But there are many other debt solutions available. A BDO Licensed Insolvency Trustee (LIT) will explain them all to you, so that you can make the decision that is right for you and your family. An LIT is also the only licensed debt relief professional capable of offering you every solution, including the popular consumer proposal.
Budgeting and credit counselling
A BDO professional will start by helping you determine if you can resolve your debt on your own through various budgeting, debt consolidation and debt management strategies. If one or more of these solutions could be best for your situation, our professionals will provide you with the information, resources and referrals to put them in place.
If you’re unable to resolve your debt situation through budgeting, debt management or debt consolidation, filing a consumer proposal allows you to consolidate your debt, and usually reduces the amount you have to pay back to your creditors. Unlike other debt management plans, a consumer proposal immediately freezes interest charges, stops wage garnishments and prevents legal action from being taken against you, providing you with protection and peace of mind.
Filing for bankruptcy
Filing for bankruptcy is considered as a last resort, after all other debt options have been explored. Depending the amount of assets you own, the amount of debt you owe and your household income, however, filing for bankruptcy can be for some people the quickest, most cost-effective solution for a fresh financial start.
BDO debt solutions website
For more information about BDO’s Personal Debt Solutions services, please visit debtsolutions.bdo.ca