Abakhan & Associates Inc. - Trustees in Bankruptcy

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Avoid Bankruptcy!!!

Make a Proposal to your Creditors

As an alternative to bankruptcy, you may be able to solve your financial crisis informally through the following options:

INFORMAL PROPOSAL

Contact your creditors and negotiate an arrangement to pay your debts over a period of time based on your ability to pay. Keep in mind the difficulty in obtaining a binding agreement from 100% of your creditors, and that the process constitutes an act of bankruptcy.

CONSUMER PROPOSAL

Some of the key elements of a Consumer Proposal include the following:

A successful proposal is a binding contract between you and all of your unsecured creditors.
The proposal must be administered by a licensed Trustee or other designated administrator of the Superintendent of Bankruptcy.
The terms of a proposal are limited only by the imagination of you and your Trustee, so long as the return to your creditors exceeds that amount which your creditors would receive in a bankruptcy.
Upon the filing of a proposal, all actions by any of your unsecured creditors are stayed, pending the outcome of the proposal.
Upon successful completion of the terms of your proposal, you will be discharged from your debts that fell under the proposal.

For an assessment of your financial situation, please click below to access a questionnaire that can be submitted directly to our offices.

Click here to submit a Consumer Proposal questionnaire.

If you experience difficulty in downloading the file, please or contact us.



	Offices Vancouver Vernon Victoria (Non-Resident Trustee) Prince George (Non-Resident Trustee)

	Non-Resident Offices Burnaby Nanaimo

	Associate Offices Calgary Edmonton Toronto