We’ll guide you to your best solution - a consumer proposal or filing for personal bankruptcy.

No matter who you are, what you do or how much debt you have, we’re always completely transparent about all your options, and the possible pros and cons to each one.

Consumer Proposal

A consumer proposal is a very attractive option because…

Personal Bankruptcy

Filing for Personal Bankruptcy is usually used as a last resort...

Consumer Proposal

A consumer proposal is a very attractive option because…

You don’t have to pay any interest - that’s right 0% - and we can help you settle your debts for much less than you owe.

On average, our clients only pay back 37% of their current debt load. That is a significant decrease!

A Proposal can only be administered by a Licensed Insolvency Trustee, not an accountant or a lawyer, and there are two things to consider:

  1. There must be an advantage to the creditors to accept the terms, which means they need to get back more than they would if you filed for bankruptcy or they will turn it down.
  2. If you have little money to pay toward the debt, then this might not be the right option for you.

The advantages are many when you opt for a consumer proposal. A few of them are that you can include your tax debt to Canada Revenue Agency; your payments can possibly be amended if your circumstances change; you will receive financial counselling; and you don’t pay any additional fees or interest to your Trustee.

The disadvantages are that the Proposal usually takes longer than a bankruptcy, costs the debtor more than a bankruptcy.

We can talk confidentially about the pros and cons to Consumer Proposals, when we meet in person during your FREE consultation

Personal Bankruptcy

Filing for Personal Bankruptcy is usually used as a last resort. It is the best option to consider when you’ve fallen on hard times and simply can’t pay back what you owe. For people in this situation, they feel a tremendous sense of relief once they decide to move forward.

You need to know that YOU DON’T LOSE EVERYTHING AND NOT EVERYONE NEEDS TO KNOW when you file for bankruptcy. That is a big misconception.

It is a legal process, administered by a Licensed Insolvency Trustee, to relieve you of most of your debts. In the process, your creditors write off the debt owed to them. So no one is paying those debts off for you. The creditors losses are covered by the steep interest rates they charge to extend credit through unsecured lines of credit and credit cards.

The process for a first bankruptcy takes a minimum of nine months, and longer in certain situations. We’d be happy to discuss this with you further in your confidential consultation.

The advantages are many, including immediate relief from your creditors; the ability to restore your utilities if they’ve been disconnected; and you can surrender a leased or purchased vehicle without having to pay out the balance of the contract.

The disadvantages include giving up all of your credit cards; it will affect your credit report for 6 years (14 years if you’ve filed previously); and you can’t change your mind once the papers are signed.

We promise to take the time to fully explain each one in a FREE consultation, that’s completely confidential.

Testimonials

★ ★ ★ ★ ★

Bad things happen to good people, especially in times of economic and employment uncertainty.

From the very beginning, from my first phone call, BNA Solutions has treated me with respect, empathy and complete professionalism.

The staff were very thorough, knowledgeable and prompt with all my interactions. All options were explained to me and I felt there was hope rather than darkness and despair.

Randall

★ ★ ★ ★ ★

It is difficult during times of uncertainty to select a stranger to assist you with a problem as sensitive and far-reaching as mine. To my benefit, BNA Solutions (“BNA”) was the stranger I selected. The representative I spoke with was forthright with what I needed to know and do, as well as sensitive to what I was experiencing when I reached out for their help. BNA stepped in and acted on my behalf with a variety of creditors and other parties in order to help me to succeed.

Shannon

★ ★ ★ ★ ★

Filing for corporate and personal insolvency was one of the hardest decisions I have had to make. It was easily the most stressful situation I have ever dealt with. When I finally made the call to file, I was met with complete passion and was very comfortable dealing with BNA Solutions. Never let yourself think that there is no solution to the problem. Call BNA Solutions!

Peter

★ ★ ★ ★ ★

BNA was great from the start. Very easy to communicate and they were very informative as to what our options were. I wouod highly recommend then to anyone as it was nice to have someone on our side. Thank you Barry and Paige for making this an easy process.

Ashley

★ ★ ★ ★ ★

I had been carrying the weight of the world on my shoulder because of the debt load During this stressful time of my life and with a proposal under the bankruptcy act looming over my head I decided to make an appointment with a few Bankruptcy Trustees.
In one case I had the initial meeting with the Trustee and then requested an additional meeting to discuss further questions and I was told that they don’t have additional meetings that unless I signed with them. I didn’t feel comfortable doing that until I had my additional questions answered. I called my lawyer and he recommended Barry Nykyforuk. I am glad I did!
I met with Barry Nykyforuk and found him to be very professional, non judgemental and very informative. He answered all my question and I am happy with BNA Solutions.

Patricia

★ ★ ★ ★ ★

Made to feel very welcome without being judged about my financial situation. Instantly felt I had people to help me, which they did.

Carl
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