Common Questions

Sheriff Sole & Madej Inc. is a fully Licensed Insolvency Trustee.

“Paving the road to debt freedom” is our commitment to help each client find the best, most efficient and cost effective path to resolving their debts and getting on the path to recovery.

Common Asked Questions

How do I know what the best debt solution for my situation will be?

Figuring out the best solution for dealing with each individual’s situation is what we do best. We’ll gather all the necessary information, review and explain all the available options, and then explain which choice we think is best for you. You’ll be able to make a fully informed, comfortable decision that deals with all of your unsecured debts.

Will I lose my house or my car?

In a Consumer Proposal secured assets, like your home and car, are not included. If you are able to maintain the payments up to date, you can keep secured assets. In a bankruptcy, the majority of clients keep their homes and cars. In rare cases, a person declaring bankruptcy may not be able to keep these assets.  The best thing to do is to call our office and talk to us. We will be able to answer any questions.

What’s the difference between a consumer proposal, credit counselling and a bankruptcy?

Consumer proposals, bankruptcy and credit counselling are each very different ways of dealing with debt. The cost structure to the client is different in each one. Bankruptcy typically has lower monthly payments over a shorter timeframe, followed by consumer proposals. Also, consumer proposals may offer some areas of flexibility not found with other debt solutions.

Bankruptcy wipes your financial slate clean. Consumer proposals allow you to keep ownership of a wider range of assets. Credit counselling isn’t a service offered by Sheriff Sole & Madej Inc., but if you are considering credit counselling we suggest you carefully review the strengths and weaknesses in comparison to a consumer proposal.

Are all debts eligible for consumer proposals and bankruptcies? 

Most unsecured debts, like credit cards, unsecured lines of credit, personal loans, taxes, etc. are covered in both consumer proposals and bankruptcies. Student loans can be included in a bankruptcy filing as long as more than 7 years have passed after the last day of study. Debts that are not eligible for a bankruptcy include alimony, child support, debts deemed to be fraudulently incurred and court imposed fines.

Directions

Some people find that our offices are difficult to locate because our address indicates that we are located on Sheppard Avenue East but the actual access to our building is from Yorkland Road. Please keep this in mind as you read through the applicable section of these directions.

From the North

  • Take Highway 404 South to the Sheppard Avenue exit
  • Exit at Sheppard Avenue
  • Turn left at the first lights off the exit ramp (at the mall entrance)
  • Turn left at the lights on Sheppard Avenue
  • Cross the Highway 404 overpass
  • Take the first right immediately after the Highway 404 overpass onto Yorkland Road
  • Take the first right at the lights into the two office towers
  • We are the north tower

From the South

  • Follow Don Valley Parkway North
  • Proceed across the Highway 401 overpass, at which point, the Don Valley Parkway becomes Highway 404
  • Exit at Sheppard Avenue
  • Stay in the middle lane of the Sheppard Avenue exit ramp
  • Go straight through the lights at Sheppard Avenue
  • Take the first right at the lights into the two office towers
  • We are the north tower

 

From the East

  • Take Highway 401 West and exit at Highway 404 (North)
  • Exit at Sheppard Avenue
  • Stay in the middle lane of the Sheppard Avenue exit ramp
  • Go straight through the lights at Sheppard Avenue
  • Take the first right at the lights into the two office towers
  • We are the north tower

 

From the West

  • Take Highway 401 East and exit at Highway 404 (North)
  • Exit at Sheppard Avenue
  • Stay in the middle lane of the Sheppard Avenue exit ramp
  • Go straight through the lights at Sheppard Avenue
  • Take the first right at the lights into the two office towers
  • We are the north tower

Transit

  • Take the Line 1 (Yonge) subway to Sheppard station
  • At Sheppard Station take the Line 4 (Sheppard subway) to Don Mills Station
  • Walk east on Sheppard for 750 meters
  • Turn right at Yorkland Road
  • We are the north tower

    Our satellite location:

    7676 Woodbine Ave., Suite 300
    Markham, ON L3R 2N2
Parking

Visitor parking is available. Payment available in the lobby of the building.

About Our Licensed Insolvency Trustee Company

“Paving the road to debt freedom” is our commitment to help each client find the best, most efficient and cost effective path to resolving their debts and getting on the path to recovery. We follow these four steps designed to achieve maximum results:

Analyze: We do a detailed analysis of your financial situation. We spend the time to uncover every facet of your finances to make sure we are able to find the best solution to setting you on the path to debt freedom

Educate: We educate you about all your options. With so many options available, our goal is to make sure you understand the details of each service offered so you will be able to see which option is the best for you.

Plan: We formulate and execute the best plan to eliminate your debt as quickly as possible.

Recovery: Sheriff Sole & Madej Inc. will provide you with the tools and knowledge to reach debt freedom and then rebuild and successfully manage your credit.

Our team of experienced trustees, administrators and counsellors are here to help you along in every step of the way. Our commitment to help each client find the best, most efficient and cost effective path to resolving their debts and getting on the path to recovery

Resources

o   What is a Licensed Insolvency Trustee?: http://www.ic.gc.ca/eic/site/bsf-osb.nsf/eng/br03459.html

o   Information to help you differentiate between a  Licensed Insolvency Trustee and a debt consultant: http://www.ic.gc.ca/eic/site/bsf-osb.nsf/eng/br03612.html

o   Five insolvency-related videos to help you better understand the insolvency process and the insolvency options that are available to you:

o   Discussing your options with a Licensed Insolvency Trustee: http://www.ic.gc.ca/eic/site/bsf-osb.nsf/eng/br03568.html

o   What to expect if you file for bankruptcy: http://www.ic.gc.ca/eic/site/bsf-osb.nsf/eng/br03569.html

o   Submitting a consumer proposal to your creditors: http://www.ic.gc.ca/eic/site/bsf-osb.nsf/eng/br03570.html

o   Understanding the bankruptcy discharge: http://www.ic.gc.ca/eic/site/bsf-osb.nsf/eng/br03571.html

o   Bankruptcy and surplus income payments: http://www.ic.gc.ca/eic/site/bsf-osb.nsf/eng/br03572.html

o   Office of the Superintendent of Bankruptcy Canadahttp://www.ic.gc.ca/eic/site/bsf-osb.nsf/eng/br01861.html