Overcoming Debts with a Consumer Proposal in Burdett
The weight of debt can be overwhelming, often leading to a sense of despair. However, there are ways to tackle this financial stressor, and a Consumer Proposal in Burdett is a viable solution. At Bankruptcy Canada, we’ve assisted countless Canadians in regaining their financial stability by offering personalized debt solutions.
Our Expertise in Consumer Proposals
We’ve garnered years of experience in assisting individuals overcome their financial burdens. Our team of Licensed Insolvency Trustees (LITs) in Burdett can help you navigate the complexities of a consumer proposal.
Consumer proposals are a more proactive and positive course of action compared to declaring bankruptcy. They’re suitable for individuals with unsecured debts less than $250,000.
How a Consumer Proposal Works
When you opt for a consumer proposal, your LIT in Burdett will liaise with your creditors to negotiate a single, affordable monthly payment for a specific period. It’s possible you might not be liable for the total amount owed.
Burdett Consumer Proposal Office
Who Can Benefit From a Consumer Proposal?
If you’re struggling financially, a consumer proposal may be suitable if:
- You can’t fully pay your debts, but your income can cover a single monthly payment;
- Your financial struggles are causing you stress;
- Wage garnishments are affecting your take-home pay.
Role of a Licensed Insolvency Trustee (LIT)
LITs offer permanent, life-altering debt solutions to individuals grappling with significant debt. They help you explore all available options and assist in making an informed decision.
Alternative Debt Solutions
At BankruptcyCanada, we’ve been dedicated to providing reliable financial solutions to Canadians for over 50 years. We offer a range of personalized solutions, including debt consolidation and informal debt settlements.
Orderly Payment of Debt
Under the Orderly Payment of Debt (OPD) program, the court consolidates your loans and remunerates your unsecured creditors on your behalf. This is done at an interest rate of 5% per annum over three or more years.
Personal Bankruptcy
While restoring your credit, personal bankruptcy might be an option to consider. Our LITs will help you assess the merits and demerits of each available option.
Conclusion
Don’t let debt control your life. At Bankruptcy Canada, we’re committed to helping you regain financial stability with custom debt solutions. Our Consumer Debt Proposal Services in Burdett aim to provide relief and a fresh start. Reach out to us today for a free consultation.