Combine Your Debts to Ease Payment

As Licensed Insolvency Trustee’s (LITs), Exelby & Partners Ltd. is authorized by the government to do Alberta bankruptcy cases and proposals. We have helped thousands of people in Edmonton, Red Deer and Grande Prairie to find the right solution to their financial difficulties.

What is Debt Consolidation?

If you have more than one unsecured creditor, a step toward relieving financial stress is to reduce them to one monthly payment through debt consolidation. For the majority of people who are facing financial difficulty, the biggest problem is reducing interest charges. If a bank is unable to consolidate your debts into one monthly payment with a lower interest, then you need to determine what is your best option. The bank may also require a co-signor or use your assets as collateral.

We Make the Process Easier

A debt or credit counsellor may be able to assist you with debt consolidation, but their programs are not binding on the creditors and the creditors may reject the solution. The effect on your credit rating will be about the same as choosing a formal option and you will likely face a fee for their services. At Exelby & Partners Ltd., we can offer formal legislated solutions to consolidating your debts into one monthly payment. We will assess your monthly income and expenses to determine the right solution for you. We will provide the tools for you to monitor your spending and determine what changes you need to make.

Plan for a More Stable Future

It is not the responsibility of the Licensed Insolvency Trustee (LIT) to dictate how people should or could spend their monthly income. That choice must be your responsibility. For many people on fixed income, tracking your spending allows them to make a plan to pay all of their monthly expenses and reduce their stress level. Unfortunately, there is often no disposable income but monthly expenses are paid and you receive peace of mind. Putting your debts into one monthly payment will help you achieve that goal.

Most people do not want to incur future debt. They want to find a solution to their financial burden and remain debt free. When the banks are unable to help, you should find a solution that will be legally binding on your creditors, whether it is a Consumer Proposal or Bankruptcy. Exelby & Partners Ltd. will help you to find the best solution to consolidating your credit payments into one monthly payment and assist you in freeing yourself from credit or debt stress.


As Alberta bankruptcy professions, we care about your financial state and will do whatever we can to get you back to financial security, while minimizing your stress levels during a difficult time.