Lazard & Associates Inc

Credit Card Debt Solutions

The first issue with credit card debt is the unpredictability of payments. The more you charge, the higher your monthly payment will be. When credit card balances are low, most people find it easy to manage their debt. When your debts become too large, your income is depleted, leaving you with less money to save and cover emergencies. You get stuck in a pattern of living paycheck to paycheck and putting every unexpected expense on a credit card.

For practically everyone, having a lot of credit card debt can be distressing. It’s always preferable to try to settle the issue with the original creditor and their internal collections department first. If those options fail to resolve the issue, the creditor would likely assign the account to a third-party debt collector.

You may begin to get collection calls, letters, emails, and text messages pleading with you to pay the debt. Contact Lazard and Associates today to discuss your credit card debt solution!

Lazard & Associates Inc

Tax Debt Solutions

You may believe that owing money to the Canada Revenue Agency (CRA) is just like any other debt. Regrettably, this is not the case. Unlike other creditors, the CRA has extremely broad and powerful authorities to collect tax debt.

The CRA not only has extensive powers, but their collections department is very aggressive in exercising them. In the best of circumstances, communicating with the CRA may be aggravating and time-consuming, but when you owe money, the issue becomes far more difficult. While other creditors may be willing to take a reduced payment rather than risk you failing on your loan, the CRA is legally mandated to collect on your obligation. The CRA debt collection process could result in your bank account being frozen, your income being garnished, or your possessions being seized. As a result, many taxpayers accept terms that aren’t financially feasible for them in the hopes of avoiding CRA collection action. Regrettably, this might lead to major financial difficulties.

If you have a tax burden and are seeking for a debt relief option, our specialists at Lazard and Associates can assess your debts and offer financial solutions to make your life easier.

Lazard & Associates Inc

Student Loans Debt Solutions

The idea behind student loans is that everyone should benefit. Student loans are the government’s investment in you. They provide you with financial assistance so that you can continue your studies. You continue your study, find a job, repay your debt, and pay taxes to create a win-win situation.

However, things do not always go as planned owing to illness or a lack of career opportunities. Despite reducing your living expenses and creating a budget, you may be left with student loans that you cannot afford to repay. The federal portion of your loan is submitted to the Canada Revenue Agency (CRA) for collection when you skip 9 months of payments.

If you’re having trouble making payments on your loan, you have a few options, including lowering your overall monthly amount, seeking a lower interest rate, and modifying your payback frequency. Alternatively, you can get guidance from a credit counsellor at Lazard and Associates on how to best manage your debts.

Lazard & Associates Inc

Stop Wage Garnishment

If you stop paying your creditors, they can file a lawsuit in court to seek a judgement order against you, which could result in a wage garnishment. This is a legal process in which a creditor demands that a third party, such as your employer or bank to turn over a portion of your earnings or bank account cash to the creditor.

Commercial debts, such as bank loans and credit cards, can only garnish up to 20% of your salary in Ontario. If you owe the Family Responsibility Office money, they can garnish up to 50% of your salary, and you might not be able to stop them.

Filing a consumer proposal or personal bankruptcy with a Licensed Insolvency Trustee is an efficient way to stop your wages from being garnished. Any garnishment order will be stopped immediately regardless of where it is in the judicial process.

Our Experts at Lazard and Associates will look into all options you are eligible for before recommending your best course of action.  Contact us today !

Lazard & Associates Inc

Stop Collection Calls

Sometimes, life throws curveballs such as job loss, illness, or unexpected car repairs at us. You may find yourself ignoring your creditors if you don’t have an emergency reserve to fall back on. When this happens, you’ll almost certainly have to deal with debt collectors.

Because your creditor has forwarded the debt you owe to a collection agency to recover on their behalf, or because your creditor has sold its overdue debts to a collection agency, you may begin to receive collection calls.

The Ontario Collection and Debt Settlement Services Act protects you in Ontario. The Act establishes clear guidelines for what a debt collection firm can and cannot do. It aims to prevent collection agencies from harassing or bullying you into repaying a debt you owe, among other reasons. The Act will not apply if the calls are coming from your original creditor, or even a collection firm that purchased the previous debt from your original creditor. Make an appointment with one of Lazard and Associates’ Licensed Insolvency Trustees immediately to discuss your debt relief options.

Our Industry Experience

Why Choose Us?

It can be quite difficult to trust someone with your finances, but when it comes to personal bankruptcy, there’s no one you can trust more than Lazard & Associates. We help you reestablish your credit, pay of your debt and avoid bankruptcy through consumer proposals.

Lazard & Associates Inc

What Our Satisfied Clients Say About Us

Very Professional, Very Understanding and Above All Very Kind Hearted Team! First time I went there I felt like a complete Loser to say the least!!! After discussing in details with Happy-go-Lucky Louise I felt 90% of my anxiety immediately gone! No word of a lie I smiled and laughed all the way home!!”

– Satisfied Client

I found Lazard and Associates to be professional and caring. After getting myself into some serious trouble, I am back on track with their help. Avoiding Bankruptcy and doing a proposal has been very helpful in reestablishing my credit quickly. I have recommended them to friends and family and happy to see that it isn't a cookie cutter approach. They take the time to do what's best for the client.”

– Satisfied Client