Personal Insolvency
Our professional team of Montreal bankruptcy trustees
will help you assess your financial situation and find the solution that is best suited for you. We have offices in Montreal, the South Shore and in the West Island.
Commercial Insolvency
As experienced insolvency professionals, our team of Montreal bankruptcy trustees have the expertise to properly assess the financial health of your business and find the best solution to its financial problems.
Services to Individuals
Proposals to Creditors
Filing a proposal to your creditors can be your best alternative to solve your financial problems and it may be the only solution for some individuals like professionals who would lose their right to practice should they file for bankruptcy. When considering a proposal, we will help you establish the amounts that you can realistically offer to your creditors and the best time frame for your proposal. Once filed we send the documents to stop seizures and legal proceedings against you, forward notices of your proposal to all your creditors and pay the amounts to be distributed to them until full completion of your proposal. Each file is unique but our experience and expertise allowed the vast majority of the hundreds of proposals registered through our office to be accepted by the creditors and carried through successfully by the once overburdened debtor.
Two types of proposals to creditors may be filed by individuals:
Consumer Proposals
This alternative can only be considered when your debts excluding hypothecs on your home do not exceed $ 250 000. A refusal by the creditors of the proposal will not lead to an automatic bankruptcy and the administration of this type of proposal is less cumbersome that the ones filed under Section III Part I of the Bankruptcy and Insolvency Act.
Proposal Under Section III Part I of the Act:
This type of proposal is ruled by the same dispositions than those registered by corporations. It is suited individuals who do not meet the criteria to file a consumer proposal. It is often filed by professionals or by individuals who owe a substantial amount of fiscal debts.
