The Côté-Gagnon family

"Just when we thought we'd lost everything, our advisor helped us regain control of our finances. Thanks to Martin for his professionalism and advice. Our case was dealt with quickly and seriously. We're back in good spirits and can sleep at night again." The Côté-Gagnon family

The situation

The Côté-Gagnon family leads an active life. Both parents work full-time, and their three teenage children play competitive sports. But with the rising cost of living – groceries, electricity and activities – the family budget is rapidly tightening. To maintain their standard of living, they refinance their home and use their lines of credit and credit cards, until they reach critical debt levels. Their SUV, financed beyond its value, becomes an additional burden on an already tight budget. When their bank refuses their request for consolidation because their debt-to-income ratio is too high, they turn to BRESSE for help.

Despite good payment discipline, the accumulated interest is eating into their income and preventing them from getting back on their feet.

The objectives

– Keeping their home;
– Getting rid of the SUV that has become too expensive;
– Protecting their children’s RESPs; and
– Regaining lasting financial stability.

The solution

Thanks to their advisor Émile, the Côté-Gagnon family submitted a consumer proposal. This solution allowed them to continue paying their mortgage, return the SUV to their creditor and consolidate the rest of their debts into a simple, realistic plan.

The proposal calls for a total repayment of $30,000 over 60 months, in monthly installments of $500. The creditors accept the offer without modification, recognizing the family’s good faith and the soundness of the established plan.

The result

Since the proposal was put in place, the Côté-Gagnons have regained lasting financial stability. Their budget is now balanced, payments are regular and creditor calls have stopped. They can once again concentrate on their family and their children’s sporting activities.

For confidentiality purposes, the names mentioned in the testimonials have been changed.

An agreement is often possible

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Journeys similar to yours

What you’re going through is far from unique. Thousands of people have already faced this situation. You deserve a second chance.

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“Until my first meeting with my advisor at BRESSE, I thought I would never get out of my situation. Martin clearly explained all my options and took the time to answer my questions. The decision was very easy to make. I chose the consumer proposal. Throughout the entire process, I felt well supported. Thank you to the whole team.”

Emilie and Marc’s progressive indebtedness

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Eric’s job loss

“Thank you to the BRESSE team for taking the time to carefully analyze our situation. The solution proposed by our advisor allowed us to avoid bankruptcy and keep our home as well as our car.”

Simon’s divorce

“I had gotten to the point of wondering whether I was still able to properly take care of my son, I was so deep in debt… My whole world was collapsing. A friend told me about BRESSE, so I decided to meet with one of their advisors. An immense weight was lifted off my shoulders from the very first meeting.”

Alexandre’s credit cards

“My meeting with a BRESSE professional restored my confidence, I got through it without having to declare bankruptcy.”