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IMMEDIATELY STOP ALL CREDITOR ACTIONS
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Debt Problems? Debt Solutions!
At Bromwich & Smith, Believing In Your Future is not a slogan. It's our philosophy. We understand that anyone can experience debt. We also understand that the stress that comes with debt can be devastating, slowly creeping into all aspects of your life. To try and go it alone can be difficult if not impossible. There comes a point where you need assistance to get you back on track. We are here to give you the assistance you need.
You Are Not Alone. We can help!
We understand that the specifics of each individual's or family's financial situation is unique. When you give us a call, we will go over the specifics of your financial situation with you and help you determine what the best solution is for you, whether your situation requires credit counselling or the legal protection of a consumer proposal or a bankruptcy. (Keep reading to learn how you can avoid Bankruptcy with a Consumer Proposal...a win-win for both you and your creditors).
Yes, We Can Stop All Creditor Actions & Legally Force Your Creditors Into A Settlement.
We are a Federally licensed Officer of the Court, acting as Credit Counsellors, Consumer Proposal Administrators and Licensed Insolvency Trustees (formally known as Trustees in Bankruptcy). So, not only do we have the necessary skills to examine your financial situation and provide credit counselling, we also have the authority to present options to your creditors that will immediately stop all creditor actions and legally force them into a settlement, based on what you can afford and not what creditors are demanding.
Bankruptcy Does Not Have To Be Your Only Option.
You might be surprised to learn that the duty of a Licensed Insolvency Trustee isn't to steer you towards declaring bankruptcy. Bankruptcy is in fact always the last resort. Instead, we are tasked with finding the best solution for both you and the creditors, such as a Consumer Proposal. Only a Licensed Insolvency Trustee can administor a Proposal, and it truly can be a win-win for you and your creditors. A Consumer Proposal will provide you with an affordable monthly payment plan that is usually based on repaying only a percentage of what you originally owed, with no interest and no fee payments from you.
No Hidden Fees!
Only a Federally Licensed Proposal Administrator and Licensed Insolvency Trustee like Bromwich & Smith can administer a consumer proposal or bankruptcy. Some debt settlement services act primary as an information source, charging a fee and then turning your file over to a Proposal Administrator and Trustee to administer the actual procedure. When you deal with Bromwich & Smith, you are dealing directly with our Administrators and Trustees, where Federal legislation allows us to be paid by a government tariff, and not through any fee payments from you.
Believing In Your Future
There is a brighter tomorrow. A future without debt. And, at Bromwich & Smith, we are passionate about helping create this future for you. We have over 40 years of debt settlement experience, and we understand. Our team lives in and around the Alberta cities, towns & communities we serve. We understand the local economy and have helped thousands of people across Alberta eliminate their debts and start Believing In Their Futures again.
Contact us today. We can provide the debt help you need, no matter what your financial situation and no matter where you live in Alberta. You can be rest assured, declaring and filing bankruptcy is not your only option.
Avoid Bankruptcy With A Consumer Proposal
Your eligibity for a Consumer Proposal will depend on your particular financial picture. To discuss your options and eligibility, give one of our Credit Counsellors at Bromwich & Smith a call today.
What is a Consumer Proposal?Consumer Proposals were created as an alternative to personal bankruptcy and can be a “win-win” situation for both you and your creditors. A consumer proposal can significantly reduce your debt and will immediately stop all creditor legal actions against you.
Based on your specific financial situation, a Bromwich & Smith trustee will negotiate with your creditors for you, offering a payment plan based on an amount that you can afford and not what creditors are demanding. Amount of settlement is usually only a percentage of what you originally owed. A Consumer Proposal is legally binding and once agreed upon, your settlement amount can't be increased...your creditors can't come back looking for more.
Creditors “win” with consumer proposals since they will receive more money then they would in a bankruptcy, and consumers win since they can keep all their assets, and can pay back their debt at a rate they can afford and not what creditors were demanding, interest free.
Stop ALL Creditor Actions As soon as a Consumer Proposal is filed, all actions against you will stop. This means collection calls will immediately stop, as will wage garnishees and all other creditor legal actions.
Make One Affordable Monthly Payment When under the protection of a consumer proposal, all of your debts are included in one monthly payment. This payment amount is negotiated between your Bromwich & Smith Trustee and your creditors, and is set at an amount that you can afford, usually only a percentage of what was originally owed.
No Interest Charges All interest charges stop. There is no interest added to your proposal amount, for the entire duration of the proposal. Every cent you pay goes towards paying your debt and not interest!
Keep Your Assets. Keep Your Home. A consumer proposal does not include assets in which creditors have leins, such as car loans. Mortgages are also not included. However, you may be able to make arrangements to continue with the payments so that the asset can be retained. If an individual has a mortgage on their residence, they can continue making the mortgage payments.
No Fee Payments From You!Our fees are based on a tariff set by the Bankruptcy and Insolvency Act, and the fees are deducted from the payments made by you, before any funds are issued to your creditors. There is no additional cost to you above and beyond the monthly payment in the proposal.
Your eligibity for a Consumer Proposal will depend on your particular financial picture. To discuss your options and eligibility, give one of our Credit Counsellors at Bromwich & Smith a call today.
To learn more about a Consumer Proposal and how it can eliminate your debt, please watch our short and informative video below.
We understand and we can help!
Do you owe one or two creditors, or are there several creditors looking for payment? Do you have an income or are you out of work or is illness preventing you from working? Do you have a mortgage, do you owe taxes, has credit card debt become overwhelming....and the list of questions goes on.
How you answer each question plays a critical role in which solution will work best for you. Choose the right path and you will be on your way to a brighter financial tomorrow. Choose a path that isn't the best for your unique financial situation, and you could end up with little or no protection against further creditor actions, and you might be risking losing assets and savings that would normally be protected under certain debt solutions, such as a consumer proposal or bankruptcy.
We will eliminate the confusion and find the best solution for you.
Bromwich & Smith has helped thousands of Albertans become debt free, and we can help you too. During your free initial consultation, we will ask you a few simple questions to allow us to analyze your current financial situation. With this information, we will be able to quickly determine the right debt solution for you.
Since 2002 the Credit Counsellors here at Bromwich & Smith have helped people just like you to not only create a working budget, but they have also helped to immediately stop collection calls, creditor harassment, wage garnishments, asset seizure, and even income tax collection through a forced settlement process called a Consumer Proposal! Since we are an Officer of the Court there are absolutely no administration fees payable by you (because we get paid as an independent Federally Licensed Administrator through a government tariff). Not only is there no cost to you for our services, but because of the nature of our Government Appointment we are able to help you force a no interest settlement on your creditors, often for less than the total amount that you owe. Sound too good to be true? It`s the Law and the creditors have to respect it
When faced with the situation of being unable to make their monthly bill payments people often look to sell some of their assets to reduce their monthly payments and pay down their debt. While this might seem like a great idea it can sometimes be the worst thing that you can possibly do for yourself, your family and for your future. Before you start to sell assets or redeem RRSPs, RESPs and life insurance policies it is extremely important that you speak with one of our counsellors.
Once you have built a budget and you have determined how much money is left over to service debt you may want to consider obtaining a debt consolidation loan. A debt consolidation loan is when a creditor (usually your bank) takes all of your debt and puts it all together (consolidates) into one single loan. The bank pays out all of the debts owing to each of the creditors and you make a monthly payment to your bank to pay back the money you borrowed (with interest of course).
Before the bank will do something like this they will want to see if you have some type of asset that they can take a security on. This means that if you don’t make the payment on the loan they can take the asset that you pledged as security and sell it to apply the money they receive to the loan (of course you’ll also have to pay any further amounts that are owed on the loan too if the asset doesn’t sell for enough to pay the balance owed).
Simply put, a consumer proposal is a forced settlement that is put on your creditors through the assistance of a federally licensed debt restructuring company like Bromwich & Smith. When you file a consumer proposal, all of your creditors actions are immediately stopped (they can no longer call you, or continue a lawsuit, garnishee your wages or continue to hold a freeze on your bank account). Once the consumer proposal is filed, all of your creditors are immediately bound by the repayment terms of the consumer proposal that we file with the federal government on your behalf.
However, after a one-on-one review of your finances with one of our counsellors, you may discover that the best option for you to get your financial life back on track is by filing bankruptcy. Filing bankruptcy is nothing to be ashamed of. Bankruptcy is a legal debt restructuring tool that is available to all Albertans with the assistance of Bromwich & Smith (In 2014, roughly 3,900 Albertans filled for bankruptcy while another 4,400 Albertans obtained their fresh start through the filing of a proposal).
After feeling lost and completely stressed, it was a great relief to find someone who was completely non-judgemental. Having someone explain all my options to me and helping with the pros and cons of every decision helped to make my choice easier.
From the initial meeting with Brian, to the counselling sessions with Shawn and Peter, I was made to feel completely at ease. Suggestions were made that will help me advance into the future with a greater sense of control over my decisions. Thank you so much for everything you have directed me to!
Bromwich & Smith provided excellent customer service, and helped me to understand the big picture when assessing my financial situation.
Peter was instrumental in helping me 'snap out' of the illusion that a good credit score is all that matters. In my case bankruptcy was the best option, and this company helped me to realize that.
I came to Bromwich & Smith to discuss debt resolution. I met with Peter Stack. Peter was very personable and made me feel very comfortable and he provided me with all the options that were available to me.
After my initial meeting I feel very optimistic about solving my debt issues.
Met with Andrew who is amazing. He explained everything from what the Firms duties are and what our duties are and what to expect. Andrew made us feel comfortable and confident that we will have our finances worked out and not be in this position again.
The people @ Bromwich & Smith are pleasant, personable, polite, considerate, understanding extremely knowledgable and caring, Thank You Andrew & Bromwich & Smith.
My only regret is that I didn't come sooner. Using a middle man costs more money for their fee as well as interest was accruing. Once I arrived I was treated with respect in an already stressful time.
I encourage you to come straight down to the trustee. There are more options than just bankruptcy.
Bromwich and Smith has really helped make my life and financial state less stressful.Thanks to their financial background and expertise I have learned about situations I can get out of.
Also the financial plan allows me to breathe without creditors continuously calling me.
I recommend any one who doesnt know where to turn when they have too many creditors harrassing them to give them a try.
Professional, helpful, and non judgmental. If you're in debt and don't know what to do, call them for help! You will be very happy you did.
This is long overdue but we had a meeting with Shawn at their south office and it was an excellent meeting with him. He made us feel comfortable and made us understand our options. We felt great leaving the place and was positive about dealing with our financial future.
We highly recommend Bromwich and Smith to those who are feeling hopeless about their financial situation.
Super professional, Amazing service, I went to 2 other trustees and By far Bromwich & Smith out performed both companies. The made it easy and comfortable. thanks a ton.
After struggling for many years with my financial situation decided to take charge of it, I went online and found Bromwich & Smith inc, I decide to take the first step and called and it was the best decision I made. They helped me to the understand that everything was going to ok,
I'm really looking forward to a fresh start.”
I was considering bankruptcy, my brother told me to look into a consumer proposal. I was referred to this company and its amazing. They are super helpful and I will be debt free soon!! You should speak with a trustee and get information if you are having debt problems! Thanks Shawn and Peter!!”
This service was excellent. We did not know what to do when I got cancer and could no longer work.
This company walked us through a proposal and answered all of our questions with compassion and expertise. The staff was professional and put you at ease during a very difficult time. We can't thank them enough.
Excellent service, walked me throughout the process of a proposal step by step and made me feel comfortable in a time in my life when I didn't know what to do.
Everyone right from the beginning, starting with Renata who took my call, made me feel comfortable and at ease. I did not know about consumer proposals.
Thank you all ,for your compassion and expertise.
Speak to a trustee before you take any action. The people at Bromwich and Smith were very knowledgeable and took their time to address my needs. I signed a consumer proposal which was accepted by my creditors and I'm working towards becoming debt free. Comfortable and easy experience, I have already recommended it to a friend who is in a similar situation. Five Stars.
Awesome!! Awesome! Gave invaluable information, friendly atmosphere. These people helped me get a handle on a scary situation that I thought I had under control...BUT didn't! Give these guys a call you would not regret it
All of the people at Bromwich and Smith has been Great. Shawn was very knowledgable and more importantly non-judgemental. He made me feel comfortable while talking about a very difficult subject. I liked the way he just 'told it like it is', no sugar coating!!! I would 100% refer people to this firm. OUTSTANDING!
When my husband and I first contacted Bromwich & Smith they were very pleasant and quite easy to talk to. They were also incredibly patient with my endless, and occasionally repetitive, questions and we never once felt like we were just another bad debt to deal with, as we had with other companies we contacted.
A heartfelt Thank-you! to everyone who was involved with our account; you all made this period of our life easier and we were able to navigate our options without stress or confusion.
The staff were friendly and very informative. They offered great advice and future tips as well. I would recommend to someone else if they were looking for someone to talk to. Great help
After I my initial talk with the staff of Bromwich & Smith met Shawn, most understanding and passionate man who is there to help when we are in need. For me was hardest thing to make decision, many sleepless nights and days. Sometimes in life we have to look forward and not despair and suffer anymore because of circumstances that lead us in difficulties. I wish every one to have courage and come forward, when needed help.I did it and glad now that I can breathe and leave all my worries. Thank You
My first time talking with a counsellor of Bromwich & Smith I met Peter, Made me fell like a real person, not a loser because I had financial problems. Now I can live my life stress free. I would recommend Bromwich & Smith to anyone who faces a hard time financially.
Some years ago I consigned on a morgtage for a friend and years later I found out the house went for closure, 5 years laters I was still dealing with it. It was just nice to know there is options out there for people in my situation to avoid bankruptcy.
I thought that the only way I could get out of this mountain of debt that I had was to go bankrupt. After talking to Shawn at Bromwich & Smith, he explained to me that there were other options available to me that I knew nothing about. He told me about this program called a Consumer Proposal which was a way of dealing with my debt problem without going bankrupt! I just make one payment a month now with no interest, this I can handle! These people at Bromwich & Smith are TERRIFIC!
A necessary service for trying times. Very professional and informative. I would recommend them for any credit challenges. I was very unimpressed by the collections tactics used by creditors that are quick to lend and even quicker to railroad your life when the wheels fall off. High interest rates by lenders more then cover bad debt but it also appears to cover un professional collections efforts. Bromwich and Smith cut to the chase and aligned all creditors. Highly recommended.
They where very kind and understanding and walked me through the process. I can never thank them enough for how they helped me get my life financially back to not being contacted by creditors all the time. they where amazing and I would recomend them highly.
So distraught, I wasn't even able to make the appt myself. I was met with an understanding smile and respect. Lucky enough to meet with Sean directly I was immediately put at ease, my fears subsided and my self esteem restored. I was given such clear options with both of our positions defined. No hidden fees no hidden costs that some may accuse! I feel my life is on track now and I did not fail, I am restructuring my financial aspects. I implore anyone before they lose sleep worry themselves without need go see Sean and his team let the experts put you at ease there is no commitment in talking to them. I cannot promote or thank them enough I can sleep at night again and feel no anxiety, I should have done this sooner. Once again thank you for all that you do Bromwich and Smith.
My husband and I found ourselves in a terrible financial bind after a couple of years of unforeseen medical and financial problems, that left us wondering as seniors if we were going to lose our home and farm. The financial burden we had was unbearable. Our excellent credit rating went to "not so great" credit rating in a matter of a year. We found our way to Bromwich & Smith. Our initial meeting with Shawn and Peter left us with many questions answered. They explained the pros and cons very well and were explicit in answering the many questions we had. Talking about debt problems is not an easy thing to talk about but with Shawn and Peter, it was easy. We were so scared of the thought of going into bankruptcy and thought we had no option. Well there was and our proposal was accepted. Now we can breathe a sigh of relief and enjoy life instead of getting up each day wondering if this would be the last day you slept in our house.
Do we recommend these folks? We certainly do.