Airdrie Bankruptcy Alternatives & OptionsDiscover all your options and get back on track.Personal Bankruptcy Airdrie - Facts, Alternatives & Options | AlbertaNo one wants to file for bankruptcy. Find other options and get more information before taking such a drastic step.Bankruptcy in Airdrie, Alberta - Bankruptcy can be the only thing that comes to mind when you realize that you can't afford to pay your debts and bills. It might be a good solution for your debt problems. But, before filing bankruptcy, you need to know more about your options, how the process works and what it could mean for you and your family in the future. We can help you avoid a possible mistake by showing you your other options first. Types of Debts - What Bankruptcy Can't DoIt's easy for people to tell you that bankruptcy helped them eliminate their debts, but do they also tell you that it's not possible for everyone? Some debts might still have to be paid because by law, they can't be included when you file for bankruptcy.3 common types of debt that aren't included in a bankruptcy are:Secured debts, like a mortgage or car loanStudent loans that are less than 7 years oldChild and alimony support payments that you're behind onMany people think that they need to declare bankruptcy because of their credit card debt, but if that debt is recent, creditors may not allow you to eliminate those balances with bankruptcy. The Bankruptcy Process - Working with Your Trustee to Obtain Your DischargeIt's not well known, but it takes at least 9 months to go through all the steps of the bankruptcy process. As part of the process, you make payments to your trustee for the costs and fees of going bankrupt, and you also have to attend two bankruptcy counselling sessions. Completing the process and getting discharged takes longer if you need to pay extra to your creditors because of your situation. If you have assets or too much equity in your home, above what you're allowed to keep in Alberta, your trustee will sell your assets for you.You should also be aware that your trustee, your creditors, the Office of the Superintendent of Bankruptcy or the Court can oppose or delay your bankruptcy discharge. Depending on your situation, you may need to attend a hearing, answer questions under oath and\/or meet the additional requirements to obtain your discharge.Credit Ratings & Bankruptcy in CanadaLegally eliminating debt through bankruptcy seriously impacts your credit rating and makes it hard to obtain credit later. You need to show creditors why they should trust you enough to lend you money again. Not being able to renew your mortgage, get a loan or apply for a low interest rate credit card often impacts other financial plans and puts your life on hold. People We Helped Interviewed by the News MediaOccasionally, the news media will speak with people we helped who are comfortable with publicly sharing their experiences. Here are a few of their stories.Global News interviews Julia Fletcher after she avoided bankruptcy and eliminated her debt with help from the Credit Counselling Society. Watch News ClipCTV News reveals how Dan Robinson paid off $30,000 in debt with no interest with the help of the Credit Counselling Society. Watch the News StoryGlobal TV interviews Charis who consolidated with us and has nearly paid off $67,000 in debt on 13 credit cards. Watch the SegmentYou can check out even more of the Credit Counselling Society in the news. Alberta Bankruptcy AlternativesBy now you may be wondering which alternatives to bankruptcy could work for you. There are a number of options and the best solution might mean combining some of them. Depending on your circumstances, 4 options that you may not have considered are: consolidation loans, debt repayment programs, debt settlement options or a Consumer Proposal.Debt Consolidation & Debt Repayment PlansWhen you hear the words "debt consolidation," you probably think that this means consolidating your bills and other debts into a new loan. This could work for you if you've got a realistic budget. For many people, it makes more sense to consolidate only their monthly payments. Don't worry if you've been turned down for a consolidation loan by your lender. There are other types of debt consolidation to consider.Consolidating payments doesn't involve borrowing more money, so there's never a problem with bad credit. That's how a debt management program and plan with a non-profit credit counselling organization works. Creditors help by lowering or waiving interest charges while you're making your payments. This lets you pay off your debts and saves you thousands in interest and fees. What you pay each month is based on what you can afford after you've had help to create a realistic budget.Debt SettlementTo help you pay back what you borrowed, consolidation programs and loans can help. Most people don't want to walk away from their debts and go bankrupt, but they think they have to because they don't know what else to do. Surprisingly, sometimes only paying back part of what you owe can also be a solution. When done properly, a debt settlement offers your creditors a lump sum of money. That might not be as far-fetched an option as you might think.Filing a Consumer ProposalThere are also times where you need a legal alternative to bankruptcy, so a Consumer Proposal might be right. A Consumer Proposal in Airdrie is set up by a trustee, and once agreed to by your creditors, you make monthly payments to repay part of what you owe.How Do I Decide Which Option to Go For?The right solution to your debts depends on your circumstances. When you're busy just trying to get from one pay cheque to the next and avoiding collection calls, you need help to look at your situation with a fresh set of ideas. You need a qualified Debt & Credit Counsellor to help you come up with a good plan.There's a Way Out of Debt Without Bankruptcy"I'm so grateful for the help of The Credit Counselling Society. I honestly didn't know what to do. I got myself in debt way more than I could handle. And it's nice to know that I'm paying off my debt with their help rather than claiming bankruptcy. Thank you so much everybody that spoke with me at the credit counselling." - Tammy, Actual Client Review from Facebook Non Profit Bankruptcy & Credit Counselling Information & Advice in Airdrie, AlbertaIf you want to find out why someone shouldn't declare bankruptcy, get answers to your questions about joint debts or debts left over from a divorce, or learn more about alternatives to bankruptcy, one of our Credit & Debt Counsellors can help! They are experts in helping people with their debts and money, and they'd be happy to provide you with the information you need to make an informed decision about your financial future.Your Counsellor will:Review all of your options to deal with your debts, including bankruptcy alternativesShow you how to manage your living costs and bills effectivelyRefer you to a bankruptcy trustee in Airdrie if filing for bankruptcy is a good option for youAnswer your questions and explain what you need to know so that you can decide the best way to deal with your debts Office Serving AirdrieSuite 210 - 1935 32 Avenue NECalgary, AB T2E 7C8Phone: 403-263-9905 Free, Confidential Credit Counselling Appointments for Airdrie, AlbertaWe are experts in helping individuals and families just like you find good solutions to their debt problems. It really is possible to get back on track and look forward to being debt free. To find out more or to schedule a free, confidential appointment with one of our Credit Counsellors who serves Airdrie, contact us today at 403-263-9905, email us or chat with us online.Putting Your Interests FirstOur goal is to always put consumers first and look out for their best interests in everything we do. One way we do this is through transparency and accountability. We are held accountable to the most rigorous standards in our industry.Related Articles of InterestMore Information About Bankruptcy in CanadaCommon Bankruptcy MythsWill Bankruptcy Solve My Debt Problems?Related LinksThe Office of the Superintendent of Bankruptcy in AlbertaInsolvency GlossaryCredit Counselling Society Alberta office locations The Credit Counselling Society also offers assistance to people who need help with their payday loans in Airdrie (even online ones).