Bankruptcy Alternatives in NapaneeGet all your options, and get back on track.Personal Bankruptcy Napanee - Facts, Alternatives & Options | OntarioNo one wants to file for bankruptcy. Find other options and get more information before taking such a drastic step.Personal Bankruptcy in Napanee, Ontario - When you can't afford to pay your bills and debts what comes to mind first? Many people think of filing for bankruptcy. While bankruptcy might be the right solution for you, you first need to find out about your other options, the ins and outs of the process, and how it will affect you and your family in the future. We want to help you avoid making a huge mistake by giving you information to make an informed decision. Types of Debts - What Bankruptcy Can't DoBankruptcy isn't something most people want to talk about with their friends. Yes, bankruptcy gets rid of most of your debts, but did you know that there are some debts you might still have to repay because they can't be included in your bankruptcy?3 types of debt that you can't declare bankruptcy on:Secured debts, like mortgages or car loansStudent loans that are less than 7 years oldChild and alimony support payments that are in arrearsSome people also want to declare bankruptcy because of their credit card debt. However, if they only recently got into debt with their credit cards, creditors may oppose eliminating the debts with bankruptcy. The Bankruptcy Process - Working with Your Trustee to Gain 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 Ontario, 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.Your Credit Report & 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. CTV News and Global TV Interviewing People We HelpedFrom time to time, the news media interviews some of those we helped who are comfortable sharing their story publicly. Below are three of these experiences with the Credit Counselling Society.Julia Fletcher is interviewed by Global TV after avoiding bankruptcy by paying off her debt with no interest with help from the Credit Counselling Society. Watch News StoryCTV 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 in the local and national news. Alternatives to Bankruptcy in OntarioBy 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.If you happen to have bad credit, you might be worried about consolidating your debts, but consolidating payments doesn't mean borrowing more money, so credit problems aren't an issue. That's how a debt management program with a non-profit credit counselling agency works. Your creditors help you by lowering or waiving interest charges. This makes smaller payments possible, saves you thousands in interest and lets you pay back what you borrowed. Your monthly payments are based on what you can afford and there's no loan to get you deeper into debt.Settle DebtRepayment and consolidation programs or loans help you pay back what you borrowed - which is a good thing because most people really don't want to file for bankruptcy and walk away from their debts. However, sometimes it's possible that only paying back part of a debt may be the best solution. That's where a debt settlement with a reputable company might help. Offering creditors a settlement requires a lump sum of money, but sometimes that's not as far-fetched an option as you might think.Filing for a Consumer ProposalIf you need a legal alternative to filing for bankruptcy, your situation might mean that you need a Consumer Proposal. A Consumer Proposal in Napanee is set up by a trustee, and once agreed to by your creditors, you make monthly payments to repay part of what you owe.What's My Best Option?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\t Non Profit, Confidential Bankruptcy & Credit Counselling Information & Advice in Napanee, OntarioIf 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 Napanee 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 Free Credit Counselling Appointments & Consultations for Napanee, OntarioWe 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 Napanee, 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 OntarioInsolvency GlossaryCredit Counselling Society Ontario office locations The Credit Counselling Society also offers assistance to people who need help with their payday loans in Napanee (even online ones).