With a personal debt solution, we can show you how to get out of debt and get your finances back on track. Behind on credit card payments, loan payments, and other debts? Behind on CRA payments? You need a plan to deal with all of your debts so you can put them behind you. The sooner you start, the sooner you will be living debt free.

Falling behind with your bill payments can happen to the best of us. A sudden job loss, illness, accident, an unexpected expense and other personal circumstances can all impact your ability to keep up with credit card bills, loan payments or other bills. It doesn’t take long for life’s little challenges to become big financial problems.

At Vine and Williams, we understand this was not your plan. We also understand that it’s difficult to get ahead when crushing debt and the burden of financial stress are holding you back.

With a personal debt management solution, we can get your finances back on track. We know you may feel like there is no way out and you don’t know who to trust with so many online offers of quick and easy help. Talk to us. We are federally Licensed Insolvency Trustees. We don’t offer a quick fix because there is no such thing. There is some work involved, but we will work with you and show you how to get out of debt.

Do you owe money to Canada Revenue Agency (CRA) for personal income taxes, GST/HST, EI or other overpayments? If CRA is after you because you are behind on CRA payments, we can help. A Licensed Insolvency Trustee like Vine and Williams can provide real relief from tax and other government debt. We can include income taxes, GST / HST, source deductions, benefit overpayments and other government assessments when showing you how to get out of debt. Government debt is treated the same as credit cards, lines of credit and other unsecured debts when you deal with a Licensed Insolvency Trustee. Missing your CRA payment can mean garnishment, seizure of assets or a freeze on your bank account … we can stop these collection actions.

Are you self-employed? We see many successful and highly skilled tradespeople who are running from CRA. We understand that being great at what you do doesn’t mean you are great with paperwork, and it often gets left undone at the end of a long tiring day. Don’t hide from CRA or assume there is nothing they can do if you haven’t filed your returns so they don’t know what is owing. Eventually, they will decide how much you owe and they will shut you down if you are behind on CRA payments. Call us to talk about how we can help … before they seize your bank account and contact your customers …call Vine and Williams for help at 310-6398.

The Right Solution for You

There are two primary solutions to debt management problems for most people — a Consumer Proposal or Personal Bankruptcy. Both are viable options, but you should educate yourself on the key differences. Compare…

  • Consumer Proposal

    Offer a partial repayment of your debt to creditors and halt collection actions against you.

    A Consumer Proposal is a proactive and practical solution to your debt problems. A Consumer Proposal is an offer to pay your creditors a percentage of your debt over a period of up to five years. It binds all creditors to the agreement and allows you to keep your possessions. Whether you have credit card debt or you are behind on your CRA payments, a consumer proposal can help you move forward. One of our licensed insolvency trustees will work with you to negotiate a settlement with your creditors. The amount you offer to repay will be less than the amount owed and it is interest-free.

    Your credit card and other unsecured debts will be organized into a realistic and affordable proposal. While creditors consider this proposal, all collection actions are halted. No more phone calls. No more nasty letters. All wage garnishments and lawsuits will be stopped.

    If you are behind on CRA payments, the amount you owe to CRA for personal tax or HST are also included in your proposal. All of your returns must be filed up to date before you can file a proposal, but the amounts assessed as owing are just unsecured debts that are treated just like your credit card debt. Our professional licensed trustees can help you.

    Once accepted, a Consumer Proposal creates a beneficial situation for both you and your creditors and gets you back on track, even if you are behind on CRA payments. Your creditors will be happy because they will receive a portion of the money owing to them. You feel a sense of pride in knowing that you have effectively managed your debt and paid your creditors to the best of your ability. You will be able to start rebuilding your credit even while in your consumer proposal.

    The ads you may see talking about whether you qualify for a federal government program to reduce your debt are talking about a consumer proposal! If you answer those ads, you may pay a fee to a consultant who will then refer you to a licensed insolvency trustee because only a licensed insolvency trustee can file a consumer proposal for you. You don’t need a referral and there is no need to pay a consultant, we will talk to you for free! Call us directly at 310-6398.

    Find out if a Consumer Proposal is right for you.Contact us for a free, confidential consultation.

  • Personal Bankruptcy

    Do you need immediate relief from the stress of your personal unsecured debts like credit cards, lines of credit and income taxes owing?

    Bankruptcy is a legal process, administered by a Licensed Insolvency Trustee, which allows you to eliminate your personal unsecured debt. If you decide to file for bankruptcy your insolvency trustee will help you organize your paperwork and then file the documents with the Office of the Superintendent of Bankruptcy. All collection and legal actions will stop. Wage garnishments will also stop and your financial slate will be wiped clean, giving you a chance to recover from the debts you owed.

    The decision to file for Personal Bankruptcy should be considered carefully and can only be discussed with a Licensed Insolvency Trustee. We can provide the information you need to fully understand the choices available to you and their impact on your financial situation. Although you may choose to give up certain assets, you will be able to keep your personal belongings and RRSP’s and in most cases, your automobile and house. After filing for bankruptcy, you are set up with credit counselling to give you the tools to manage your money successfully in future.

    When your bankruptcy period is over, you will be discharged. You will no longer have any legal obligation to repay the debts covered under the terms of your bankruptcy. If this is your first bankruptcy, it is possible to be discharged in as little as 9 months. The bankruptcy will impact your credit, but your insolvency trustee can help guide you through the process and show you how to minimize the damage. Imagine living without the stress of having to juggle minimum monthly payments or nasty collection calls!

    Contact us for a free confidential consultation to find out if personal bankruptcy is right for you.

  • Compare Your Options

    There are two primary solutions to debt management problems — a Consumer Proposal or Personal Bankruptcy. Both are viable options, but you should educate yourself on the key differences. Compare…

     Consumer ProposalPersonal Bankruptcy
    Future PaymentsPayments are fixed based on an agreed payback schedule.Payments increase or decrease if your net income changes.
    Impact on AssetsYou keep all your Assets.You may choose to relinquish some assets.
    Monthly ObligationsYou must make set monthly payments to your trustee.You must make monthly remittances to your trustee and report all income and certain expenses.
    Personal Income TaxYou are required to file your own income tax returns and will pay taxes or receive refunds as usual.Your trustee must file your tax return for the year you file bankruptcy. You do not pay taxes owing up to the date of bankruptcy, but any refunds for the year will be sent to your trustee for the benefit of your creditors.