Case Study: Couple in Hamilton That Are Happy With Proposal Results

If you’re in debt, chances are you’re looking for an effective and efficient way to regain your financial stability.

And this is where a consumer proposal comes in.

A way of consolidating your debts into one affordable monthly repayment, it allows you to rebuild your credit in as little as three years after being discharged.

At Bankruptcy Canada, we’ve partnered with over 400 Licensed Insolvency Trustees across the country.

Offering people debt relief guidance since 1999, we know what it takes to get you back on your feet.

Because of this, throughout the years we’ve received glowing testimonials.

Here is one in particular that we’re proud of is from a couple in Hamilton, Ontario:

Throughout the years, my partner and I started to accrue a large amount of debt.

It all began when I got a pay rise.

However, under a year later I was made redundant.

Because of the pay rise, we’d been living a luxury life, but when I was made unemployed we suddenly realized that we’d spent more throughout those 10 months than we realistically should have.

By this time, we were nearly $100,000 in debt and were only just getting by.

We couldn’t even rely on credit cards even more as these had been maxed out.

Once we realized just how bad the situation was, we knew it was time to seek professional advice – which led us to Google debt relief advice in Ontario.

Bankruptcy Canada came up and after navigating through the site, we stumbled upon the ‘contact a Licensed Trustee page.

After contacting them, we arranged an initial consultation.

The trustee we used was so friendly and empathetic to our situation.

Talking us through our options, we looked primarily at filing for bankruptcy and filing a consumer proposal.

Although both options felt very daunting, our trustee’s advice and calm nature put us at ease.

Taking us through the steps of each option, it became clear that a consumer proposal was the right way to go.

We then arranged to meet with the trustee again to sign the documentation.

Then, they sent the proposal off to our creditors.

When they agreed with the proposal we were able to consolidate our debts into one payment a month that aligned with our budget.

This isn’t the only good thing about a proposal, however – as it also freezes interest rates and stops those horrible harassment calls from your creditors!

We want to thank Bankruptcy Canada and our Licensed Trustee for all the help and guidance that they gave us.

We’ll definitely recommend this resource to others in the future. 

Thanks a lot,

Matthew and Sarah (these are not their real names)

Find Out More Today

Do you want to find out more about consumer proposals?

Or perhaps you want to find a Hamilton-based Licensed Insolvency Trustee?

Whatever the query, don’t hesitate to get in contact with them today by either recalling (879) 877-4770 or by email.

Information on Consumer Proposals

Consumer Proposals in Canada – An Alternative to Bankruptcy
What is a Consumer Proposal?
What are the Benefits of a Consumer Proposal?
What are the Steps in a Proposal?
What Debts Are Erased in a Consumer Proposal?
Is There Life After a Proposal?
Consumer Proposal Eligibility
How to Amend a Consumer Proposal