We at EMR Debt Solutions have Qualified and Registered Estate Administrators and Credit Counsellors, who have over 10 years of experience working side by side with Trustee’s in Bankruptcy.

First we will sit down with you and review your finances than we automatically reduce your debt by up to 70%. Secondly, together we will come up with an affordable monthly payment plan, which is completely interest free. Lastly we negotiate with your creditors on your behalf to get the proposal accepted and binding.

WHAT IS A CONSUMER PROPOSAL: (+) 

A debt assistance program offered by the Federal Government. It is a legally binding agreement between you and your unsecured creditors on the reduced amount that was proposed, which is covered in the Bankruptcy and Insolvency Act and Ontario Execution Act. During the proposal, your income is never monitored and your payments stay the same for the full term.

This option is best suitable for individuals that;

_  are insolvent and cannot make their payment obligations as they become due for  reasons such as; loss of income, money mis-management or even dealing with unsecured debts along with an accident or serious illness in your family.

_  are capable of paying, an interest free, reduced amount on their unsecured debts

_  are planning to purchase a vehicle or a property in the near future

_  owe between $1,000- $250,000 dollars worth of unsecured debts.

DIVISION 1 PROPOSAL:

 _ Is a program offered to generally to small to midsized businesses that cannot meet their financial obligations of $250,000 or more.

_ It is also only offered to clients that owe more than $250,000 dollars and/or owns more than one property.

JOINT- PROPOSAL:  

_If you have joint-debt of 70% or greater with another individual you can file a joint proposal along with the other individual.

WE CAN HELP: (+)

 -      At EMR Debt Solutions, our goal is to create an affordable, interest free, monthly payment plan for all of your unsecured debts so that you are on your path to financial freedom and growth and never look back.  Also protect your assets such as your house and/or your vehicle.

WE CAN COVER: (+)

- Unsecured Debts such as;

• Credit cards,
• Line of credit, Unsecure Personal Loans,
• Student Loans (More than 7 years),
• Store Cards,
• Government Tax Owings,
• Medical Bills,
• Personally Guaranteed Business Debts,
• Utility Bills,
• Payday Loans,
• Bank Overdrafts.

WE CANNOT COVER: (+)

• Student Loans (Less than 7 years),
• Fines imposed by courts,
• Government Tax overpayments,
• ETR 407,
• Child and Spousal Support,
• Any debts aroused by fraudulent activities,
• Secured debts* (please contact a debt specialist to see how we can help)

We IMMEDIATELY STOP: (+)

• Collection Calls,
• Wage Garnishments,
• Court Judgments,
• Interest charges

What HAPPENS TO YOUR CREDIT: (+)

- Will go down to an R7 for 3 years, after paying off your proposal. While you are paying off your proposal you can repair your credit so you are back to an R1 sooner. (Please visit Credit Repair/Counseling(link) page for more information)

EMR WILL HELP: (+)

_You collect and Fill out all required information in order for you to file.

_Guide you on to a right path and ensure you are making the right decision based on your current financial situation.

_Provide you with all the tools and knowledge needed to ensure you never get back into debt through our credit counseling sessions.

_Assist you with repairing your credit as well as financial budgeting during the proposal until you are on the final step of being discharged and after the proposal as well.

CONSUMER PROPOSAL STEPS: (+)

1)    Initial Consultation- with one of our EMR debt specialists.

2)     Review of file- Collection of all documents, finalization.

3)     Consumer Proposal gets filed with Office of Superintendant of Bankruptcy (Link)

4)     Creditors are notified of your Proposal

5)     You must attend two Credit Counseling Sessions

Once your monthly Payments are completed- you will be legally released from all of your unsecured debts covered in your proposal and you are given a certificate of full compliance.

Please refer to our Debt Calculator (link) which creates a comparison chart.

Compare: Full Debt Repayment (Debt Amount/Interest Rate/Term) Vs. Debt Consolidation Vs. Consumer Proposal.

*The calculation above includes unsecured debts only, if you have questions about your secured debts please contact us.

DID YOU KNOW…

* A higher percentage of people  are filing a consumer proposal rather than bankruptcy.

* It takes the average person almost 20 years to bring their debts to $0.00!

If you ever chose not to proceed prior to filling we are entitled to get rid of all of your information. This is done to give our clients a piece of mind.

Once proposal is fulfilled in full, you will receive a certificate of full compliance.

It is our promise to you that your future will consist of a
“Path to Financial Freedom & Growth”
when you walk through our doors.