If you’re trying to break free from crippling debt, every financial choice is an important one. Depending on the extent of your debt, you may be considering debt consolidation or bankruptcy. However, sometimes the line separating the two can become blurred. Westgeest & Associates is here to help, with expert credit counseling to help you get ahead of your debt.

Debt Consolidation

Debt consolidation involves taking all of your unsecured debts and combining them into a single, secured loan so that, instead of juggling multiple payments, you only make one monthly payment. One method of consolidation is seeking a loan from a bank or private institution to pay off your other creditors, bringing all of your debt under one roof. Another option is getting Westgeest & Associates to help you create a consumer proposal. You could also consult a government certified trustee to help build a debt management plan, which involves budgeting, cutting expenses, and increasing your income so that you can repay your debts.


If you are declared insolvent and are unable to complete a consumer proposal, then bankruptcy may be your last resort. That’s when it’s time to call a licensed insolvency trustee to take care of your bankruptcy proceedings. While bankruptcy can often relieve much of your debt, it’s important to note that not all loans are covered by a bankruptcy. Debt that is secured, such as a car loan or mortgage, is not included and must be settled with the creditor separately. In most cases, failure to repay the debt will result in the repossession of your car or home.

With so many things to consider, it’s smart to get professional help from expert trustees Westgeest & Associates. Contact us today to get your finances back on track.