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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?
Is it Better to File a Consumer Proposal or Settle Your Debts Without Assistance? A Look at a Consumer Proposal vs Settling Debts on Your Own If you are having trouble paying your bills you are probably considering how you can get out of debt. You are likely wondering if you can avoid bankruptcy and still … Read more
Consumer Proposal FAQ – Frequently Asked Proposal Questions A consumer proposal is a payment plan that you can negotiate with your creditors so you can avoid bankruptcy. Our Consumer Proposal FAQ page is intended to give a person in debt a brief understanding of how a proposal works. We have gathered some of the most common … Read more
Many people are struggling with debt and often they put off dealing with their debt for as long as possible. You’re embarrassed and afraid that you might have to go bankrupt. Need Help Reviewing Your Financial Situation? Contact a Licensed Trustee for a Free Debt Relief Evaluation Schedule Your Free Consultation Many Canadians do not … Read more
If you have read any of the consumer proposal pages on this site, you will know that a consumer proposal is a popular bankruptcy alternative. It is also a “win-win” debt solution for the debtor and their creditors. Making a proposal allows you to take advantage of the benefits of filing bankruptcy without the drawbacks … Read more
Bankruptcy’s Automatic Stay of Proceedings A Stay of Proceedings goes into effect as soon as a bankruptcy or proposal is filed. Need Help Reviewing Your Financial Situation? Contact a Licensed Trustee for a Free Debt Relief Evaluation Schedule Your Free Consultation It will stop any collection action including a wage garnishment. The stay also prevents your … Read more
Information on Consumer Proposal Administrators In order to file a consumer proposal, you must use a consumer proposal administrator. A consumer proposal administrator is a licensed expert that is regulated to administer to consumer proposals in Canada. A consumer proposal is an agreement between a debtor and his/her creditors that is legally binding. The debtor … Read more
Consumer Proposals Have a 98% Acceptance Rate: We made the statement in this article that almost all consumer proposals are accepted because the creditors know they will get more money with the consumer proposal than if the debtor goes bankrupt. In many cases the creditors will get nothing in a bankruptcy. Trustees report that consumer … Read more
A consumer proposal is a very attractive way for debtors trapped in debt to get their finances under control. In addition to providing debt forgiveness, and allowing for a debt repayment plan that is interest free, in some situations it is also the cheapest way to get out of debt. For some debtors, going bankrupt … Read more
The Consumer Proposal Process How Does a Consumer Proposal Work? – An In-Depth Look at the Consumer Proposal Process A consumer proposal is a legally binding agreement with your unsecured creditors to repay a portion of what you owe. People that are unable to repay all of their debt but can afford to repay a … Read more
How Do Holiday Expenses Play Into Debt Management? Holidays and Christmas is a popular time of year. As friends and families gather to celebrate together there are many expenses during this time. Is it possible to celebrate Christmas and holidays with your family and stay out of debt in January? Managing holiday expenses is an important … Read more
Debtors in Canada who are struggling to repay their debts may ask their creditors to reduce the amount they must repay by making a Consumer Proposal to their creditors. A Licensed Insolvency Trustee (the only debt professional who can file a consumer proposal with a debtor’s unsecured creditors) will review your financial situation and make … Read more
