As Scarborough Licensed Insolvency Trustees, we can offer you debt counselling, negotiation with creditors, consumer proposals and personal bankruptcy services.
The Most Stress Relieving
Call You’ll Ever Make!
Call You’ll Ever Make!
Call us for a FREE Consultation
1-888-545-5365
Scarborough East Licensed Insolvency Trustees Ontario
GET A FRESH START
Please provide the following information so we may contact you for your free consultation.
Get Out Of Debt
Scarborough East Licensed Insolvency Trustee and Consumer Proposal Administrator, Richard Killen & Associate’s second Scarborough office is located at Markham Road and Ellesmere Road. This office offers a full range of debt relief services for residents in the area that have found themselves in financial difficulties.
The office is close to the Scarborough City Centre which is home to Scarborough Town Centre (Canada’s 10th largest mall), Scarborough Civic Centre, Albert Campbell Square and Consilium Place. This area also boasts home to the Toronto Zoo and the Scarborough Bluffs.
Scarborough Licensed Insolvency Trustees
Scarborough is a nice place to live however if your living with debt and the worry on how to pay your bills is keeping you up at night, it’s time to consider talking to a professional that can help you review your options.
Scarborough was also labelled as “crime-ridden” as compared to other parts of Toronto however these claims were unfounded. It was later determined that it was the media, not facts that spurred these rumours.
A call to our Scarborough 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
- 2100 Ellesmere Rd Suite #201D, Scarborough, ON M1H 3B7, Canada
That’s our specialty at Richard Killen & Associates. We are Licensed Insolvency Trustees and debt counsellors that have helped thousands of people get a fresh start and become debt-free. Sometimes the solution is a personal bankruptcy however more often the answer is a consumer proposal. There are benefits to both and only once we understand your financial situation can we help you make an educated decision as to which solution is the best fit for your unique circumstance.
There are also other alternatives we will review with you such as debt consolidation loan in Canada or informal proposals.
Almost every person that comes to our office leaves feeling like a heavyweight has been lifted from their shoulders. We understand that sometimes people get into bad financial trouble and our goal is to help you find the right solution to get you back on track, financially.
Scarborough Consumer Proposals For Debt Relief
Only a Licensed Insolvency Trustee can offer consumer proposals and explain to you the benefits and legal consequences of each solution.
We also realize that meeting during the day may interfere with your work, therefore we offer after hour’s appointments. Your first consultation is always free. If you are falling behind on your monthly obligations, please call us before the stress has negative effects on your health, career and relationships.
Call today. Your initial consultation is Free. This call could be the most stress relieving call you will ever make.
Contact us today at +1 416-644-1212 to get that debt relief you’ve been looking for!
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.