Camrose Bankruptcy Info & AlternativesGet all your options, and get back on track.Personal Bankruptcy Camrose - Facts, Alternatives & Options | AlbertaNo one wants to declare bankruptcy. Find out what other options you have. Get more information before you make such a serious decision.Personal Bankruptcy in Camrose, Alberta - Bankruptcy might be the first thing you think of when you realize that you can't keep up with your bills and debts. It might even be the right debt solution for you. But, before declaring bankruptcy, you need to know your options, how the process works and how it will affect you and your family in the years to come. Let us help you avoid a mistake by explaining all of your options first. Types of Debts - What Bankruptcy Can't DoThere's a lot that people don't tell you about bankruptcy. Sure, it will get rid of most of your debts, but there are some debts you might still have to pay because they can't be included in your bankruptcy.3 common kinds of debt that are excluded from bankruptcy are:Secured debts, like a car loan or mortgageStudent loans, if they are less than 7 years oldChild and alimony support payments that aren't up to dateAlso, if you recently racked up credit card bills and now want to go bankrupt, creditors may stop you or ask that you pay more, before they let you get rid of the debt through bankruptcy. Bankruptcy Procedures - The Process of Working with Your Trustee to Attain Your DischargeFiling for bankruptcy is the easy part. Did you know that it takes at least 9 months to complete the whole bankruptcy process? During that time, there are costs and fees to pay to your trustee for bankruptcy. You are also required to attend two bankruptcy counselling sessions. Depending on your situation, if you have to pay extra money to your creditors, completing the process will take longer. If you have too much equity in your home, or assets above what you're allowed to keep in Alberta, your trustee will sell your assets for you.Many people aren't aware that their trustee, their creditors, the Office of the Superintendent of Bankruptcy or the Court could oppose or delay their discharge from bankruptcy. Depending on someone's situation, they may need to attend a hearing, answer questions under oath and\/or meet additional requirements to obtain their discharge.Your Credit Report & Bankruptcy in CanadaBankruptcy is one of the worst things you can do to your credit rating. There is no easy way to obtain credit after you have legally eliminated your debts through bankruptcy. It takes time and patience before creditors trust you enough to lend you money again. Not being able to take out a loan, renew your mortgage or apply for a low interest rate credit card can impact your financial plans and put your life on hold. People We Helped Interviewed on Global TV and CTV NewsOn occasion, the news media will talk to one or two of the people we helped who are comfortable sharing their story with the public. Below are three of these stories.Global TV interviews Julia Fletcher after she eliminates her debt with zero interest & avoids bankruptcy with help from the Credit Counselling Society. See Story NowCTV 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 SegmentSee even more of the Credit Counselling Society on the news. Alternatives to Bankruptcy in AlbertaBy 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.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.When you consolidate payments, you don't actually borrow more money, so bad credit is never a problem. That's how a debt management program with a non-profit credit counselling organization works. Your creditors will help you by lowering or waiving ongoing interest charges. This saves you thousands of dollars in interest and lets you repay your debts. The amount you pay each month is based on your budget and on what you can afford.Settling Your DebtsConsolidation programs and loans help you repay what you borrowed. Most people really do want to pay back what they owe and not walk away from their debts by declaring bankruptcy. However, only paying back part of what you owe might be the best solution. That's where a debt settlement, when structured properly, can help. You need a lump sum of money to offer your creditors a settlement, but sometimes that's not as far-fetched an option as you might think.Consumer ProposalSometimes a legal alternative to bankruptcy might be what you need. A Consumer Proposal could be the right solution depending on your situation. A Consumer Proposal in Camrose is arranged by a trustee, and by making monthly payments, you pay back part of what you owe. Your creditors have the option to agree to the proposal or not.Which Option is Best?By now you can likely gather that a lot depends on your situation. And regardless of what you've tried in the past, you need help taking an objective look at your whole financial situation with a fresh set of eyes. You need a trained and certified Credit Counsellor to help you come up with a good plan.There's Hope Without Declaring Bankruptcy"Whatever your financial worries, trepidation or fear of being judged\/forced into bankruptcy - get CCS to help. Their staff is incredible, couldn't have dealt with a better group of people. They are truly dedicated to finding practical solutions, advocating for your financial future. First they provide hope, then they help and finish by delivering happiness." - Daryl, Actual Client Review from Google Non Profit Bankruptcy Information & Credit Counselling Advice in Camrose, AlbertaOne of our expert Credit Counsellors can help if you need answers to questions about joint debts, have questions about debts left over from a divorce, want to learn more about alternatives to bankruptcy, or want to know more about how going bankrupt would affect you. They are experts in helping people come up with good solutions to deal with their debts, and would be happy to provide you with the information you need to make an informed decision to get your finances back on track.Your Counsellor will:Explain all of your options to deal with your debts, including alternatives to bankruptcyShow you how to effectively manage all of your bills and living expensesRefer you to a bankruptcy trustee in Camrose if it looks like bankruptcy is your best optionAnswer your questions and give you the guidance you need to know what to do about your debts Free Credit Counselling Appointments & Consultations for Camrose, 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 Camrose, contact us today at 1-888-527-8999, 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 Canadian BankruptcyCanadian Bankruptcy Myths & FactsWill Bankruptcy Fix 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 Camrose (even online ones).