Are you experiencing financial stress or cash flow problems? Or are creditors calling you often, but you are unable to make your payments?
You are not alone. Come talk to one of our Debt Relief Managers at Doyle Salewski. We will help you do the math and find a solution to deal with your debt that fits your budget. Give us a call at 613-569-1001 or visit us online at DoyleSalewski.ca.
With over 25 years of experience, Doyle Salewski, has helped people take stock, consolidate, refinance, and get back on track. We can help you.
We are at the Orléans-Cumberland Community Resource Centre every Monday from 8:30 am until 4:00 pm for in person appointments and follow all Covid-19 health protocols. We also offer phone or ZOOM consultations Monday to Friday during business hours. Our consultations are free of charge.
Professional credit counsellors at Doyle Salewski can help!
If you have excessive debt and are no longer able to manage your monthly payments, this ‘’Debt Relief Solution’’ may just be what you are looking for.
Debt Relief Solutions
REASON FOR CONTACTING DOYLE SALEWSKI INC.: A couple ran a business for the past 23 years and managed to get through the COVID-19 pandemic. Unfortunately, business has not returned to pre-covid numbers, and the cost of running the business has also increased. The couple obtained a CEBA loan during COVID-19, and the loan payments are due now.
DEBT RELIEF SOLUTION: The Debt Relief Manager at Doyle Salewski met with the debtors to review their options. The clients have decided to close the business and look at ways to resolve outstanding debts without filing bankruptcy. They decided to file a consumer proposal rather than file a 2nd bankruptcy – as the numbers did not make sense for a 2nd bankruptcy. By filing a consumer proposal, the clients could reach an affordable monthly repayment plan with CRA and the rest of their creditors.
OUTCOMES: The clients were able to wind down the business, avoid bankruptcy and have peace of mind with an affordable monthly payment plan.
Debt Relief Solutions
REASON FOR CONTACTING DOYLE SALEWSKI INC.: The couple was managing their debt repayment plan on their own. CRA re-assessed 4 prior years’ tax returns due to charity receipts from a charity that turned out to be fake. This resulted in a new debt amount owing of $25,000 and CRA requested a monthly payment of $1350. This payment was more than 30% of the couple’s income and put too much strain on the rest of the budget.
DEBT RELIEF SOLUTION: The debt relief manager at Doyle Salewski met with the debtor to review all of their options. The debtors were able to reach an affordable monthly repayment plan with CRA and the rest of their creditors by filing a consumer proposal.
OUTCOMES: The debtor was able to get back on track with an affordable monthly payment and avoid bankruptcy.
Tax Tip 109: Always file your taxes on time, even if you think you will owe money. Filing late puts you in a position to be charged a late fee, which increases with each late filing. The CRA will see you as a chronic late tax filer.
Year in Review
In 2023, we met with 189 clients at the Orléans-Cumberland Community Resource Centre, each presenting a new challenge regarding the financial issues they were struggling to resolve. These issues ranged from crypto-currency and romance scams to significant changes in employment or health, as well as post-pandemic CRA debts or a business struggling to recover.
The interviews fell into the following categories:
- 16 insolvency counselling sessions
- 114 first-time appointments
- 59 signups
The majority of signings were for a consumer proposal – where clients just needed a more affordable repayment term at zero percent interest.
Some clients were able to develop and adopt a different approach to managing their budget in a way that aligned with their financial goals.
As 2024 unfolds, consider booking a conversation with us to review your budget strategy or fine-tune your financial goals – the cost is free, and there is no obligation.
All of us here at Doyle Salewski wish you and your family all the best for a prosperous 2024!
Debt Relief Solutions
REASON FOR CONTACTING DOYLE SALEWSKI INC.: A debtor was trying to reach a repayment agreement with CRA for outstanding personal taxes. The two parties were unable to reach an affordable agreement, and with the fear of garnishment of their wages looming, the debtor obtained a high-interest loan to pay off the tax debt. They now find themselves unable to repay these debts.
DEBT RELIEF SOLUTION: The debt relief manager at Doyle Salewski met with the debtor to review alternative repayment options. The debtor reached an agreement with their creditors in a consumer proposal.
OUTCOMES: The debtor was able to get back on track and better manage monthly living expenses and avoid bankruptcy by making an affordable consumer proposal to creditors.
Debt Relief Solutions
REASON FOR CONTACTING DOYLE SALEWSKI INC.: A single mother owns her home but still has a mortgage. She recently discovered that there were four liens on the property for items she did sign up for and did not have—a total amount owing $73,000.
DEBT RELIEF SOLUTION: The debt relief manager at Doyle Salewski met with the debtor to review their options. Unlike most of our solutions, this one required a few more experts to help obtain a resolution. First, the client was referred to free legal services to review the liens in question. The client was also referred to a mortgage broker to see if the debts could be rolled into a new first mortgage once confirmed as true and accurate.
OUTCOMES: The debtor was able to resolve the lien issue and obtain financing to deal with the debts with the assistance of a mortgage broker.
Debt Relief Solutions
REASON FOR CONTACTING DOYLE SALEWSKI INC.: A couple had a high tax debt from not filing taxes for a few years out of fear. Debt was now 50,000. CRA requested a payment of $2,200/month. This payment was more than 50% of the couple’s income and put a significant strain on the rest of the budget – causing the debtors to fail behind on rent, utilities and car payments.
DEBT RELIEF SOLUTION: The debt relief manager at Doyle Salewski met with the debtor to review all of their options. The debtors were able to reach an affordable monthly repayment plan with CRA.
OUTCOMES: The debtor got back on track with an affordable monthly payment and avoided bankruptcy by filing a consumer proposal with their creditors.
Tax Tip 103: Always file your taxes on time, even if you think you will owe money. Filing late puts you in a position to be charged more of a late fee as a chronic late tax filer. Each year you file late, it increases the percentage that CRA will charge as a fee. The higher the debt owed, the higher the fee.
Year in Review
In 2022, we met with 171 clients at the Orléans-Cumberland CRC, each of whom presented a new challenge in terms of the financial issues they were struggling to resolve, including matters ranging from crypto-currency scams and romance scams to significant changes in employment or health.
The interviews fell into the following categories:
- 47 counselling sessions
- 88 first-time appointments
- 36 signups
Some of our clients were able to utilize the equity in their homes through re-financing, a reverse mortgage or outright selling of their home as the market timing was right. Some clients just needed a different approach to managing their budget in a way that aligned with their financial goals – a rearranging of the financial furniture.
As 2023 unfolds, you may want to book a consultation with us to review your budget strategy or fine-tune your financial goals – the cost is free, so it already fits your budget.
Debt Relief Solutions
REASON FOR CONTACTING DOYLE SALEWSKI INC.: The debtor had a part-time job pre-covid that helped balance out their budget, the job was suspended during Covid-19, and the debtor was recently advised that the job has been completely eliminated. This has changed the ability of the client to meet their financial obligations with debts of $22,000.
DEBT RELIEF SOLUTION: The debt relief manager at Doyle Salewski met with the debtor to review alternative repayment options. The debtor was able to reach an agreement with their creditors in a consumer proposal for 30% of the balance owing.
OUTCOMES: The debtor was able to get back on track and better manage monthly living expenses and avoid bankruptcy by making an affordable consumer proposal to creditors.
Debt Relief Solutions
REASON FOR CONTACTING DOYLE SALEWSKI INC.: A single person with no dependents and no assets is on medical leave and has about $120,000 in debt. CRA re-assessed a few prior tax years and demanded monthly payments of $1,800/month, which is more than the client could afford.
DEBT RELIEF SOLUTION: Debt relief manager at Doyle Salewski considered all options and recommended a consumer proposal as the most affordable solution.
OUTCOMES: A consolidated payment for all debts was reduced to $950/month with no further interest accumulating on the balance owing. More importantly, the client will be debt free in 5 years or less. CRA agreed to the monthly plan based on the client’s budget, and all the other unsecured creditors were included in the plan. The client has been able to reduce their stress level, which will help them return to work sooner than expected.
Debt Relief Solutions
REASON FOR CONTACTING DOYLE SALEWSKI INC.: A couple with no assets and debts totalling approximately $200,000 are approaching retirement and expressed concern that their minimum debt payments will no longer be affordable with reduced income.
DEBT RELIEF SOLUTION: They are currently paying $2,700/month in minimum payments. Although they have not missed a payment, the balance owing has not changed much on the accounts in the last 6 years due to the interest being paid. Our Debt Relief Manager considered all options and recommended a consumer proposal as the most affordable solution.
OUTCOMES: Payments were reduced to $1,200/month with no further interest accumulating on the balance owing. More importantly, they will be debt free in 5 years or less. They can now plan their retirement with the peace of mind that they will be able to comfortably afford the rent, food, transportation, medical costs and other reasonable living expenses.
Debt Relief Solutions
REASON FOR CONTACTING DOYLE SALEWSKI INC.: A elderly client ran into financial difficulty during the pandemic and obtained 3 payday loans totalling $10,000. The minimum payment was over 800/month, which means the client needed to re-borrow the loan each month to cover their living expenses.
DEBT RELIEF SOLUTION: Debt relief manager at Doyle Salewski met with the debtor to review a more affordable repayment plan. The debtor and creditors agreed on a proposal for 150/month for all the debt, at zero % interest
OUTCOMES: The client is able to manage their regular expenses, such as rent, food and medicine, now that an affordable repayment option has been obtained. The client was able to avoid bankruptcy by making a reasonable consumer proposal to their creditors
Debt Relief Solutions
REASON FOR CONTACTING DOYLE SALEWSKI INC.: A couple with $110,000 in consumer debt, approached their bank for a consolidation loan, they have been customers at the bank for 25 and 30 years and have good, reliable income – they were both declined. One loan payment was 1050/month – and there were also credit cards for both of them
DEBT RELIEF SOLUTION: Debt relief manager at Doyle Salewski met with the debtor to review a more affordable repayment plan. The debtors and creditors agreed on a proposal for 800/month for all the debt, at zero % interest
OUTCOMES: Debtors are able to manage other budget expenses now that an affordable repayment option has been obtained. The debtor was able to avoid bankruptcy by making a reasonable consumer proposal to their creditors
Debt Relief Solutions
REASON FOR CONTACTING DOYLE SALEWSKI INC.: Debtor operated a business which included debt that was personally guaranteed. The creditor had gone to court, won the case and was able to freeze the bank account. The debtor tried to make a payment arrangement prior to court, however the creditor would only accept 100% repayment.
DEBT RELIEF SOLUTION: Debt relief manager at Doyle Salewski met with the debtor to review a more affordable repayment plan. The debtor and creditor were able to agree to an affordable lump sum payment in addition to a monthly consumer proposal payment which reduced interest charges to $0.
OUTCOMES: Debtor is able to manage other budget expenses now that an affordable repayment option has been negotiated through the Trustee. The debtor was able to avoid bankruptcy by making an affordable consumer proposal to creditors.
Debt Relief Solutions
REASON FOR CONTACTING DOYLE SALEWSKI INC.: Debtor had a very high tax debt from a failed business. CRA was threatening to garnishee the wages and freeze the bank account. The debtor tried to make a payment arrangement – however the demanded payment of 1200/month was not available in the budget.
DEBT RELIEF SOLUTION: Debt relief manager at Doyle Salewski met with the debtor to review a more affordable repayment plan with CRA. The debtor and CRA were able to agree to 400/month in a proposal and reduce interest charges to $0
OUTCOMES: Debtor is able to manage other budget expenses, now that an affordable repayment option has been obtained with CRA. The debtor was able to avoid bankruptcy by making an affordable consumer proposal to their creditors
Debt Relief Solutions
REASON FOR CONTACTING DOYLE SALEWSKI INC.: Debtor had a very high car payment, from rolling over 2 previous car loan balances into the new car – payment was 1100/month. This payment put too much of a strain on the rest of the budget – causing the debtor to fail behind on rent, utilities, and other debt payments.
DEBT RELIEF SOLUTION: Debt relief manager at Doyle Salewski met with the debtor to review alternative car options. The debtor was able to obtain a car at an affordable monthly rate and reduce monthly overall debt payments from $600 to $200 as well as reduce interest charges to $0
OUTCOMES: Debtor was able to get back on track: negotiate a reasonable car payment, better manage monthly living expenses and avoid bankruptcy by making an affordable consumer proposal to creditors
Debt Relief Solutions
REASON FOR CONTACTING DOYLE SALEWSKI INC.: Debtor suffered an unexpected marital breakdown, that resulted in stress-leave and as a result, they were unable to make minimum payments on credit cards and high interest rate loans while paying rent, food and transportation costs.
DEBT RELIEF SOLUTION: Debt relief manager at Doyle Salewski met with the debtor to summarize debt list, prepare a budget based on reasonable living expenses and reduce monthly debt payments from $950 to $200 as well as reduce interest charges to $0.
OUTCOMES: Debtor was able to get back on track and better manage monthly living expenses and avoid bankruptcy by making an affordable consumer proposal to creditors.
