Gordon Sands

A consumer proposal is a popular debt management solution, but what happens if you stop paying a consumer proposal? Let’s delve into the consequences and explore the possible solutions. The Fundamentals of a Consumer Proposal A consumer proposal is a formal, legally binding process conducted by a Licensed Insolvency Trustee (LIT). It’s an agreement between … Read more

The Frequency of Consumer Proposals Rejection: An In-Depth Analysis The Consumer Proposal is a legal procedure regulated by the Bankruptcy and Insolvency Act. It allows individuals to make an offer to their creditors to modify their payment terms. However, a prevalent concern among many is: How often do consumer proposals get rejected? A Glimpse into … Read more

Understanding the Process After Paying Off a Consumer Proposal Debt management is a challenging task for many. Among various solutions available, a consumer proposal is a common approach to manage and eventually eliminate debt. But, a question that often looms in the minds of debtors is, What happens after I pay off my consumer proposal? … Read more

Consumer proposals are a popular solution for many individuals facing significant debt. But what happens after a consumer proposal is accepted? Here’s what you need to know. Consumer Proposal Completion When a consumer proposal gets accepted, it’s not the end of the journey. There are still responsibilities to fulfill. Once you’ve met the conditions set … Read more

Understanding Debts: What Isn’t Covered by a Consumer Proposal? Financial insolvency can be a daunting situation to face. When debts become unmanageable, many individuals consider filing for a consumer proposal. But what debts are not released by a consumer proposal? In this comprehensive guide, we delve into the specifics of consumer proposals, shedding light on … Read more

Eliminating debt can be a daunting task. With various financial relief options available, it becomes challenging to select the best way forward. One common solution for many Canadians is the consumer proposal. But, the question always remains, what debts are covered by consumer proposal? This article unravels the mystery and provides a comprehensive guide on … Read more

Debt consolidation is a common challenge faced by individuals worldwide. One effective strategy to tackle this issue is by filing a Consumer Proposal. If you’ve been asking yourself, “What are the steps of a consumer proposal?”, you’ve come to the right place. This comprehensive guide will provide you with every detail you need to understand … Read more

Once you’re in a financial crisis, it’s quite a challenge to get out of it. British Columbia residents often find themselves overwhelmed with debt and unsure of their options. One solution that’s been gaining popularity is filing a consumer proposal. But what exactly is it, and what are the rules for consumer proposals in BC? … Read more

Disadvantages of Filing a Consumer Debt Proposal In the face of mounting debts, a consumer proposal can be a lifeline. However, diving headfirst into this debt relief option without understanding its potential downsides can lead to unexpected surprises. This comprehensive guide will explore the potential risks of a consumer proposal, so you can make an … Read more

Dealing with financial struggles can be a daunting task. One of the ways to manage debts and regain financial stability in Canada is through a consumer proposal. However, a unique aspect of this process is the chance of a deemed annulment. This article delves into the intricacies of the consumer proposal and deemed annulment, offering … Read more

Understanding the Impact of Divorce on Consumer Proposal Separation or divorce is a significant life event that can greatly impact your financial situation. One of the common financial solutions for those facing debt issues is a consumer proposal. However, the question often arises – how would divorce affect our consumer proposal? This article seeks to … Read more

In the world of debt relief, navigating the intricate paths of financial obligations can prove challenging. One such area of concern is the intersection of vehicle loans and consumer proposals. This article aims to shed some light on this subject, providing a comprehensive understanding of how vehicle loans are impacted when one files a consumer … Read more

Emerging from a deep sea of debt can be a daunting task. One potential lifeboat in such a scenario is a Consumer Proposal – an appealing alternative to bankruptcy in Canada. But what is a consumer proposal, and crucially, how to qualify for a consumer proposal? This guide aims to answer these questions and more. … Read more

Suffering from financial stress can be overwhelming, and when you find yourself with unmanageable debt, options such as a consumer proposal may seem like the only way out. A consumer proposal is a legally binding agreement between a debtor and their unsecured creditors, where the debtor agrees to pay a portion of their debt over … Read more

Understanding the Impact of Consumer Proposal on Credit Score Dealing with financial challenges can be daunting, and one of the ways to alleviate this burden is by filing a consumer proposal. However, it’s crucial to understand how this debt relief option impacts your credit score. So one may wonder, how much will my credit score … Read more

In the realm of debt management, a consumer proposal stands as a viable alternative to bankruptcy. It is a legal procedure supervised by a Licensed Insolvency Trustee (LIT) that allows you to renegotiate your debts with your creditors. But a question often arises – how many times can I do a proposal? This comprehensive guide … Read more

Understanding the Duration of a Consumer Proposal Repayment Have you ever wondered, “how long does it take to pay off a consumer proposal?” This question is common among debtors looking for relief options. The answer hinges on various factors, such as your total unsecured debt and the repayment schedule you can manage. Despite these variables, … Read more