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Consumer Proposals: How to Negotiate With Your Creditors and Avoid Bankruptcy
A consumer proposal in Canada is quickly becoming a popular alternative to bankruptcy. Consumer proposals allow you to negotiate with your creditors to repay only a portion of your debt. A consumer proposal is the most effective way to get out of debt and avoid bankruptcy.
Learn more about consumer proposals by following these links
What is a consumer proposal?
How does a Consumer Proposal Work?
Consumer Proposal vs. Bankruptcy
What is the Consumer Proposal Process?
Royal Bank Votes No on Consumer Proposals Often – Here’s Why A consumer proposal is a legal tool to reduce the total debt you owe without filing for bankruptcy. Here, you strike a deal with creditors to slash your overall bill so that they can get some of their money back, and you escape unsustainable … Read more
Why You Shouldn’t Default On Your Consumer Proposal Debt can have severely damaging ramifications for anybody. Whether it is credit card, overdraft, or loan debt, you must find a solution to consolidate your debt. A popular way to do this is to agree on a Consumer Proposal. However, while many debtors will elect to follow … Read more
If you have government debts, you are probably aware that you can’t obtain effective debt relief through a credit counselling debt management plan or a personal debt settlement program. Government creditors do not negotiate with credit counsellors or individuals when it comes to debts. However, debt relief solutions administered by a Licensed Insolvency Trustee can … Read more
Most people who struggle to pay off debt believe that personal bankruptcy is the only possible debt relief program for their situations. Unfortunately, only 10% of our clients are eligible for bankruptcy, which can leave a lot of people wondering how they can write-off debt without bankruptcy. A Licensed Insolvency Trustee can help you understand … Read more
If you have debts you can’t manage, it may be helpful to consider a consumer proposal to give your finances a fresh start. However, many of our clients are worried about how a consumer proposal will affect their spouse. More often than not, dealing with debts via a consumer proposal has no impact on your … Read more
99% of Consumer Proposals are Acepted – Here’s Why Are you thinking of filing a consumer proposal? If your debts are in danger of spiralling out of control, you might be wondering whether a proposal will be accepted. This article contains all the information you need. Need Help Reviewing Your Financial Situation? Contact a Licensed … Read more
If you owe money to the CRA, you can clear your debt through bankruptcy or a popular bankruptcy alternative, the consumer proposal. This guide provides advice for anyone considering making a proposal to the Canada Revenue Agency. Need Help Reviewing Your Financial Situation? Contact a Licensed Trustee for a Free Debt Relief Evaluation Schedule Your … Read more
Clearing WSIB Debts With a Bankruptcy or Consumer Proposal Even if you’re a self-employed contractor with zero employees, you’re no doubt aware the Ontario Government’s Workplace Safety & Insurance Board (WSIB) rules still apply to you. With coverage under the scheme mandatory and a WSIB Clearance Number needed to get paid for contracts – it’s … Read more
Advantages Of A Consumer Proposal Explained As one of the most popular debt solutions available in Canada, consumer proposals are frequently used to reduce debt and make it more manageable. Although making a consumer proposal is often the best way for an individual to resolve their debt problems, it’s important to get personalized advice before … Read more
Consumer Proposal FAQs If your debts are spiraling out of control, it’s time to take action. There are many ways you can tackle your debt, and in Canada, a consumer proposal could help you deal with unmanageable, significant debts. Consumer proposals are unfamiliar to many people, but they can be a useful way of handling … Read more
What is The Debt Limit For a Consumer Proposal? Filing a consumer proposal is often a good way to avoid filing for bankruptcy if you owe a substantial amount of money. Consumer proposals allow you to come to an agreement with your creditors so you can make lower monthly payments over a period of time. … Read more
Can 407 ETR Debts Be Discharged in Bankruptcy or a Consumer Proposal? In 2015, the Supreme Court of Canada ruled that debts owed to 407 ETR Highway in Canada can be discharged when claiming bankruptcy or in a consumer proposal. The Supreme Court decided that federal bankruptcy law is paramount to provincial legislation, meaning that … Read more
How to Keep Your Assets By Making a Consumer Proposal For those who would like to keep their assets and avoid filing for bankruptcy when in debt, a consumer proposal can be the right choice to make. A consumer proposal could allow you to keep assets that you would not be able to keep had … Read more
How to Revive a Consumer Proposal After It’s Annulled If you’re going to repay your debt, you need a regular income to do so. That’s on top of money to buy food, pay bills, and survive. A consumer proposal is a debt relief plan, and although it can be a huge help to those in … Read more
What is the Difference Between a Consumer Proposal and a Division I Proposal? It’s important to be aware that when you speak to an Insolvency Trustee under the Bankruptcy Insolvency Act they have the option of providing two different types of proposals. Most people aren’t aware that both a Consumer Proposal and a Division I … Read more
Saving an Insolvent Business If you’re a business owner looking to save your company, you might be thinking about the benefits of business proposals. This guide will help you decide whether a business proposal is a viable option for your venture. What is a business proposal? A business proposal, also known as a commercial proposal, … Read more
Consumer Proposal Advice is Free! Up and down the country, thousands of innocent Canadians who are simply trying to get out of debt, are being ripped off by unlicensed debt advisors who are charging them a fee to refer them to a Licensed Insolvency Trustee who will then handle their consumer proposal request – Don’t … Read more
Division I Proposals Although there is a range of debt solutions available, consumers in Canada aren’t always aware of them. While there is a growing number of people using consumer proposals to resolve their debt issues, a relatively small number of people consider using a Division I proposal to achieve the same results. With so … Read more
Consumer Proposals Are Often Better Than Bankruptcy – Here’s Why. In Canada, the majority of adults have some form of debt. However, increasing financial obligations and rising house prices means that the average amount of debt we have is getting higher. What’s more, an increasing number of people are struggling to manage their debts effectively. … Read more
A Guide to Consumer Proposals Amid a soaring debt crisis, more people are using insolvency debt solutions than ever before. If you’re in debt and you’re struggling to manage your finances, there’s a good chance you’re looking for a viable solution to your problems too. Fortunately, there are a wide array of options available. Consumer … Read more
