Most Recent 'Consumer Proposals' Posts

Questions about Consumer Proposals Consumer Proposal FAQs What is a Consumer Proposal? A Consumer Proposal is a mechanism that allows Candians who are facing insolvency to make an offer to their creditors to pay a portion of what is owed to them over a certain period of time, with five years being the maximum period […]

Are 407 ETR Debts Dischargeable in Bankruptcy or Proposal? The Background People with financial woes have two trains of thoughts in their minds usually. One – should they work on a formal Consumer Proposal or file for Bankruptcy? Two – even if they do choose either of these options, to what extent would they be […]

RBC Votes No to Consumer Proposals Consumer proposals are one of the options for Canadians facing crippling debt to avoid bankruptcy or insolvency declarations. Rise in insolvency The number of insolvency filings are increasing in Canada fueled by large debt burden and higher interest rates. As per Canada’s Office of the Superintendent of Bankruptcy, 32,239 […]

Consumer Proposals If you are an individual and have fallen into financial difficulty, Consumer Proposals allow you to avoid personal bankruptcy and can be an effective alternative. However, there are multiple factors to take into account before filing and proceeding down the path of Consumer Proposals. What is a Consumer Proposal? A Consumer Proposal is […]