Restrain the actions taken by your creditors!
In opting for the Voluntary Deposit Act (formerly known as Lacombe Law), you commit to making monthly payments to the Court until all of your debts have been reimbursed. The monthly payment is determined based on your salary and family obligations.
Is this the solution for you?
- This option is available to salaried workers, self-employed workers and employment insurance recipients residing in Québec.
Advantages
- You avoid bankruptcy
and put an end to harassment from your creditors .
- You have just one monthly payment, consistent with your budget.
- You avoid the risk of seizure (salary and furnishings of your principal residence) and of being fired.
- You pay only 5% interest on your debts.
You must…
- Ensure that the monthly payment is not lower than accruing interest.
- Ensure that the length of time needed to eliminate your debts is suitable.
- Ensure that the required payment is reasonable and consistent with your budget.
For more information on the voluntary deposit, we suggest you speak to one of our counsellors. Contact an office near you for a free, confidential consultation.
