RRichard Killen & Associates is a Brampton (Georgetown) Licensed Insolvency Trustee and licensed consumer proposal administrator that offers debt relief services such as debt counselling, consolidation loan advice, creditor negotiation, consumer proposals and bankruptcy services to the residents of Georgetown, Acton and Halton Hills.
Brampton & Georgetown Licensed Insolvency Trustees
GET A FRESH START
Please provide the following information so we may contact you for your free consultation.
Get Out Of Debt
Brampton and Georgetown Licensed Insolvency Trustees, Richard Killen & Associates has been serving the communities of Brampton, Georgetown, Halton Hills, Acton and Rockwood with debt relief solutions and debt counselling services. Here we share the same location with solicitor, Paul Millman, who has been providing a full range of legal services to the people of Georgetown for 3 decades.
A Licensed Insolvency Trustee in Brampton or Georgetown, Ontario
As with all of Richard Killen offices around the GTA we provide a full range of services that includes debt relief counseling, creditor negotiation for consolidation loans, informal arrangements, consumer proposals Ontario and personal bankruptcies.
Brampton Consumers Proposals Or Bankruptcy Services
A call to our Brampton office will likely be the most stress-relieving call you will ever make. Most clients wished they had called us sooner rather than wait until the stress was unbearable.
Your initial consultation is always FREE. We also accept evening appointments to accommodate your work schedule.Our Licensed Insolvency Trustee office in Pickering is located at:
- Richard Killen & Associates Ltd
- Licensed Insolvency Trustee and Licensed Consumer Proposal Administrator
- 348 Guelph St, Unit 4 Georgetown, ON L7G 4B5, Canada
We help people that are in debt and are looking for assistance in getting a fresh start.
Maybe you have tried to get a consolidation loan and been turned down. Maybe you feel like your back is against the wall and are not sure what your next move is going to be. Stop shopping around and get a Licensed Insolvency Trustee to give you an overview of your options.
Only a trustee can provide all the available options and let you know the consequences of each solution. It could be a consolidation loan, consumer proposal or bankruptcy that could be your best option. By talking to one of our experts, you will get to understand all your options, not just some of the options. You are not obliged to do anything or take any kind of action. Get the facts and know your options.
Your first consultation is always FREE and we can book appointments during the day or in the evenings if more convenient.
It may be a tough call to make however I can assure you that most people say the call they make to our office is the most stress-relieving call they have ever made. Many wished they had called earlier.
We understand that good people get into financial trouble and we are here to help.
Richard Killen & Associates is a Brampton (Georgetown) Licensed Insolvency Trustee and licensed consumer proposal administrator that offers debt relief services such as debt counselling, consolidation loan advice, creditor negotiation, consumer proposals and bankruptcy services to the residents of Georgetown, Acton and Halton Hills.
Testimonials
What our customers say about us
QUESTIONS ANSWERED ABOUT BANKRUPTCY
What factors determine if bankruptcy is the best solution for me?
There are a number of circumstances that determine when bankruptcy in Toronto is not the best solution. If your income is sufficient to manage your debt over a given period of time you may be able to renegotiate an arrangement with your creditors. Counseling may be helpful to determine if you can change anything in your financial situation that would allow you to come up with a solution. Alternatives to bankruptcy may involve an Informal or Consumer Proposal.
Who will know about my bankruptcy?
We are often asked “Who will know about my bankruptcy?”. Only your creditors must be notified of your bankruptcy in Toronto. It is not necessary for your employer or clients to know about your bankruptcy unless you owe them money as creditors. Though your bankruptcy, as well as your ultimate discharge, are public records and are in all Credit Bureau records for up to seven years, notices are not published in newspapers.
How does bankruptcy affect my wages?
Wage assignments and garnishments are stopped once bankruptcy in Toronto is declared. The Licensed Insolvency Trustee in bankruptcy reviews the amount of your wages and your living expenses through monthly budgets for the nine months period of your bankruptcy. Your income is then compared to guidelines set by the Superintendent of Bankruptcy. A copy of the guidelines is available from the Trustee. If you have surplus household income, after taking into account income and dependants, a portion may have to be paid to the Trustee, who distributes it to your creditors.
Does bankruptcy affect my spouse?
No your bankruptcy does not effect your spouse. Only assets owned by the bankrupt are included in the bankruptcy. If assets are jointly owned with a spouse, then the bankrupt’s portion may have to be sold and distributed to the creditors. It is important to make the Trustee aware of joint assets so that each case can be reviewed individually.
What happens with respect to my taxes?
In regards to bankruptcy and taxes, the Trustee prepares two tax returns in the year of bankruptcy. A pre-bankruptcy income tax return must be filed for the period from January 1 to the date of bankruptcy. A post-bankruptcy income tax return must be filed for the period from the date of bankruptcy to December 31. Income tax refunds from prior years are an asset of the bankrupt estate and must be sent to the Trustee.
The Trustee usually is assigned refunds from the post-bankruptcy return be paid to the creditors. Income taxes owing prior to the bankruptcy are discharged. Any amount owing on the post-bankruptcy tax return must be paid by the bankrupt.
If I go bankrupt, will I need a bankruptcy lawyer in Toronto?
Generally, you do not require a bankruptcy lawyer in Toronto to go bankrupt. If you feel the need for legal advice and cannot afford a lawyer, legal aid is available.
Will I ever be able to get credit again?
If I go bankrupt will i ever get credit again? is a common question. If you have credit cards in collection, you already have a poor credit rating. Your ability to obtain and use credit after discharge depends on the amount of down payment, ability to have credit and recent payments to secured creditors and those who report to the credit bureaus. You should obtain a copy of the Discharge Order and send it to the Credit Bureau so that your credit record can be updated.
What is a Licensed Insolvency Trustee in Toronto?
A Licensed Insolvency Trustee in Toronto is an individual who is designated by the Superintendent of Bankruptcy to administer the bankruptcy or consumer proposal process and provide counseling within the requirements of this process. A Trustee acts on behalf of both the bankrupt and in the interests of the creditors, insuring everyone’s rights are upheld.
Are student loans discharged in bankruptcy?
In a general sense student loan debts are treated exactly the same as all other unsecured debts, in that they are stayed from taking collection action during a bankruptcy and student loans outstanding will receive their share of any distribution and have the same rights as other creditors.
An individual filing bankruptcy within ten years of last attending school will not be eligible to have their student loans discharged at the end of the normal nine-month bankruptcy term. Rather, that individual must make a separate application to the court to have the student loans discharged after the ten-year period has passed.
The laws involving bankruptcy and student loans are relatively new and the Courts will be interpreting these new laws and your Trustee will advise you of up-to-date changes.
GET A FRESH START
Please provide the following information so we may contact you for your free consultation.