Dealing With Debts in Collection

Many people have had financial difficulties in the past for a whole number of reasons. Whether it was caused by a failed relationship, the loss of a job or simply indiscretions of youth, anyone can find themselves in a difficult financial situation. As a result, bills go unpaid, and at some point, they get sent to a collection agency.

Besides all of the harassing phone calls and intimidating letters, these collection accounts will hurt your credit score and your ability to access credit or to own a home.

So what can you do to fix the situation? Well, it didn’t happen overnight, so it’s going to take some time to resolve. The first thing you need to do is find out who you owe and how much. If you don’t have your account information, then we recommend contacting the two credit reporting agencies, Equifax and Trans Union, to get a free copy of your credit report.

Once you have a list of your debts, you need to figure out your monthly income and expenses; this will help you determine how much money you have leftover to pay on your debts.

Now it’s time to figure out the best option for clearing up your debts, at the most reasonable cost and with the most affordable payment. The professionals at Powell Associates Ltd. will sit down with you to review the various options and find the best solution for you.

Powell Associates Ltd. is a Licensed Insolvency Trustee. We are experienced, hands-on insolvency practitioners who understand the personal impacts of major financial stress; 

• You won’t be stuck in an assembly line process. 

• You will expect and receive prompt responses and resolution of issues from our supportive and experienced team.  

• We will review your debt solution options, including filing a consumer proposal or personal bankruptcy. 

• We help Canadians with overwhelming debt get fresh financial starts.  

Once you file a consumer proposal or personal bankruptcy, we deal directly with your creditors on your behalf. Your unsecured creditors are required to stop contacting you or continuing legal proceedings against you. Contact us for a free consultation.  

We offer free consultations to review your financial situation and practical debt resolution options.  Contact us to discuss your situation over the phone, a video chat, or in-person in Saint John, Moncton, Fredericton, Charlottetown, Dartmouth, or Miramichi.