Find out how much of your debt you could walk away from, and what it would really cost you, before you talk to a trustee.
Free chat with Penny. No obligation.
Every option costs you something, whether it's money, your credit or your peace of mind. The trick is knowing which outcome is a fit for you.
Dollar signs show what it costs you, thumbs show what it does to your credit, stars show the stress. This is a general guide: every file is different, and Penny works out yours.
Thirty percent? Seventy? That one number decides whether filing is worth it.
Sometimes the honest answer is that it isn't. Once you add up the fees, the payments and the hit to your credit, filing can cost more than it saves. You should know that before you sign anything.
Everyone else at the table already has one.
Trustees are paid a set fee plus 20% of everything that goes to your creditors. A bigger payment means a bigger fee.
Their best case is you paying in full, with interest, without ever learning what your options were.
Some consultants charge thousands and suggest they'll handle the trustee for you. They can't. You sign and you answer the questions, so we make sure you're ready.
For as long as you need. She answers your questions and shows you what each option costs.
Your file is reviewed and you get a full report, including exactly what to say to the trustee.
We introduce you to a trustee and stay in touch until it's done.
The chat and the report cost you nothing. Some of our partners pay us a referral fee, so you never pay us.
Whatever you choose, your credit comes back. We cover every credit rebuilding strategy: what actually works, and what's a waste of your money.
Coming out of a bankruptcy or proposal, it's usually the only card anyone will give you. You put down $500 to $2,000 and get that as your limit. It's still a real credit card, and the limit usually goes up over time.
Use the card a little and pay it on time, every time. Keep the balance low. That's most of the game.
In our experience it takes about three years to get back to 600 to 650. That's where lenders start treating you like a human being again: a vehicle first, then a mortgage.
Nobody can remove accurate information from your report early. The credit bureaus take it off on their own schedule, for free.
A card with a zero balance that you pay on time is the fastest way back. If you close it, you'll need a secured card to start over.
Equifax and TransUnion will both give you your credit report for free. Check it for mistakes, and make sure old debts show as included in your filing.
How long it stays on your report: a first bankruptcy, 6 years after your discharge (7 with TransUnion in Ontario, Quebec, PEI and Newfoundland). A consumer proposal, 3 years after you pay it off or 6 years after you sign, whichever comes first. A debt management plan, 2 years after it's paid. Source: Financial Consumer Agency of Canada.
Google reviews from our founder's earlier practice.
"He offered great advice with absolutely no sense of blame on my part or making me feel uncomfortable because of the situation we are in."
"I would recommend him to anyone who wants advice … this is NOT a waste of time, this is well worth it."
"After 1 phone call my Anxiety Went from 100 to 0 and i can move forward with my life."
"He asked on a regular bases if I understood what he was talking about. When I didn't he clear and slowly went over the information in more laymen terms."
"Excellent customer service. … Highly recommended"
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