Services – Paddon and Yorke

By: Paddon+yorke  09-12-2011

Every year thousands of Canadians experience financial difficulties for for many different reasons. You are not alone.

The professionals at Paddon + Yorke will explain all of your options so you choose a solution that is right for you. We promise to work with you to create a successful plan to deal with your debts.

Other products and services from Paddon+yorke


Consumer Proposals – Paddon and Yorke

The proposal can be tailored to suit your present financial situation, whether it’s extended payments terms or a percentage of the total debt to be paid in monthly payments or in a lump sum. A consumer proposal is a legal process that provides a debtor with a simplified streamlined method to settle their debts with creditors without filing an assignment in bankruptcy. Stops creditors from taking any legal action.


Summary of Steps – Paddon and Yorke - summary of steps

When a decision is made to file an assignment in bankruptcy, the Trustee will inform the individual of the implications of bankruptcy, prepare the necessary documents and file the assignment in bankruptcy with the Office of the Superintendent of Bankruptcy. As an Officer of the Court, the Trustee represents the interests of all the creditors in the bankruptcy process and will investigate the affairs of the bankrupt as warranted.


FAQ – Paddon and Yorke

Should the creditors turn down the consumer proposal, the debtor will no longer be protected by the Act, at which point the creditors will again be able to take the necessary steps to recover their debts. The debtor is required to advise the trustee of any change in their financial situation that could jeopardize their ability to make the required payments set out in the consumer proposal.