Bankruptcy Trustee Kitchener – Expert Mortgage
Have you been to seen a bankruptcy trustee in Kitchener only to be told that filing bankruptcy, credit counselling, or consumer proposal are your only options for debt relief? Expert Mortgage is here to tell you, DO NOT LISTEN TO THIS! If you are considering filing for bankruptcy or credit counselling, we want to speak with you first. There may be other options for debt relief that will not destroy your credit and Expert Mortgage will set the record straight. Typically, a bankruptcy trustee in Kitchener or a credit counsellor will push these options because usually they are only paid when you do file for bankruptcy, consumer proposal, or credit counselling. Along with this, a bankruptcy trustee may not tell their customers that filing for bankruptcy will severely cripple your credit for approximately 7 years. Don’t destroy your credit by filing for bankruptcy, credit counselling, or consumer proposal, Schedule your appointment with a professional at Expert Mortgage today!
What is a bankruptcy trustee in Kitchener?
Quite simply, a bankruptcy trustee is a professional who is licensed by the Government of Canada to administer your bankruptcy or consumer proposal. Only a licensed trustee in bankruptcy or licensed insolvency trustee can file a bankruptcy or proposal for you. You file for bankruptcy with the assistance of a trustee, who is then assigned to administer your bankruptcy under the Bankruptcy and Insolvency Act and manage assets held in trust.
Benefits of debt consolidation at Expert Mortgage as opposed to bankruptcy or consumer proposal:
- Low monthly payments: If you can convert high interest credit card debt into a new loan with a lower overall interest rate you will be able to save on interest and lower your monthly payment. Another option is to extend your repayment term to reduce your monthly payment however be aware this will keep you in debt longer.
- Save on interest costs: Consolidating high interest credit card debt into a bank loan or second mortgage which carries a lower interest rate can save you interest over the long term. How much you save will depend upon how fast you pay off your new loan.
- One easy monthly payment: One of the biggest advantages of consolidating your debt is that you will now only have one simple monthly payment to make, rather than multiple payments. This can make it easier to stay on top of your debt repayment.
- The most important benefit of them all DOES NOT DESTROY YOUR CREDIT. In fact, it immediately improves your credit because (i) the repayment of any bad debts registers on the bureau, and (ii) high balances brought below 80% of their limits also significantly improves your credit. 35% of your credit score is made up of how much of your credit limits you have utilized.
For more information about a bankruptcy trustee in Kitchener and why you should avoid filing for bankruptcy, consumer proposal, or credit counselling at all costs, please feel free to continue browsing through our Expert Mortgage Canada website. Debt consolidation and refinance are strategies for debt relief that will not cripple your credit, and we can get you set on the right path for debt relief. We can be reached at 1-844-397-3780 or by filling out our contact form.