Tips on Dealing with Creditors with Bromwich And Smith
Dealing with debt can be overwhelming.
If creditors are calling to collect unpaid dues it can often feel easier to simply ignore them.
That said, debt does not go away, and people will always be indebted whether it is collectible or not.
Peter Stack, restructuring consultant at Bromwich + Smith, says that creditors can escalate the situation. This can result in judgments that they are able to enforce.
When people have unpaid debt that they are ignoring, creditors have the right to offset.
This means a financial institution can go in and recover money owed themselves. Many individuals don't read the fine print and are unaware that this is a possible outcome.
There is an emotional toll taken when it comes to dealing with outstanding debts. This is why it is so important for people to not ignore the situation.
Reaching out for help is one of the best steps that can be taken.
A licensed insolvency trustee, such as Bromwich + Smith, can help map out solutions and steps to resolve the situation.
The team at Bromwich + Smith offers free consultations. It offers unbiased and nonjudgemental help and works with clients to find the right solution to eliminate debt and get things back on track.
CTVNews.ca Top Stories
NDP motion regarding Palestinian statehood passes after major Liberal alterations
A motion from the federal New Democrats initially calling on Canada to recognize the 'State of Palestine' passed amid widespread acrimony on Monday, after the Liberals drastically altered its wording to see the government simply work towards that aim as part of a two-state solution.
'He didn't want to die': Family of Calgary man killed in standoff speaks out
Family of a Calgary man killed after a 30-hour standoff with police last week are speaking out, sharing details of the tense and heart-wrenching experience.
Toronto family doctor who called patient's body 'perfect' suspended for 3 months: tribunal
A family doctor in Toronto has been suspended for three months after a disciplinary tribunal found that he failed to follow proper protocols while examining a patient's breasts and made inappropriate comments about her body.
Ohio mom who left toddler alone 10 days when she went on vacation pleads guilty to aggravated murder
An Ohio mother whose 16-month-old daughter died after being left home alone in a playpen for 10 days last summer while she went on vacation was sentenced Monday to life in prison with no chance of parole.
Retired teacher pleads guilty to paying for sex with 15-year-old in Collingwood, Ont.
In a Barrie courtroom on Monday, a retired high school teacher from the Niagara Region pleaded guilty to sexual touching and obtaining sexual services from a 15-year-old boy in Collingwood in 2021.
Hertz CEO out following electric car 'horror show'
The company, which announced in January it was selling 20,000 of the electric vehicles in its fleet, or about a third of the EVs it owned, is now replacing the CEO who helped build up that fleet, giving it the company’s fifth boss in just four years.
5 charged in Calgary kidnappings that targeted women
Calgary police have charged five men in a pair of kidnappings last year that targeted innocent victims.
Demand soars for solar eclipse glasses in Canada. Are they worth buying?
The demand for total solar eclipse glasses used to safely view the rare celestial event has been ramping up as sellers, along with astronomy and eye-care experts in Canada, warn that viewing the eclipse with the naked eye is dangerous.
Canadian commander of volunteer fighter group dies in Ukraine
A Canadian-born commander of the so-called Norman Brigade, a volunteer fighting group in Ukraine, has died.