Consumer Proposal Burnaby, BC
Cut 70% Of Your Debt. Save Your Home and Car!
Making a consumer proposal in Burnaby is a legal debt repayment option that allows you to take control of your debt.
As a legal process, it must be filed with the assistance of a Licensed Insolvency Trustee, also known as a Consumer Proposal Administrator.
Under this legal process between you and your creditors, you will make a proposal to repay a portion of the total debts that you owe.
During the terms of the proposal you won't be paying interest and your Trustee / Proposal Administrator will handle all communications with your creditors on your behalf.
The consumer proposal is regulated by the Canadian government through the Bankruptcy and Insolvency Act.
You and your trustee will work out a repayment plan that is based on what you can afford to repay and what is fair for your creditors.
Even though, you will often repay less than you actually owe through a consumer proposal.
In some cases you can repay as little as 30% of the total debt that you owe.
Only a Licensed Insolvency Trustee (formerly a bankruptcy trustee) can file a consumer proposal in Canada.
No other debt help professional is licensed or regulated to provide consumer proposal services, so you must work with a trustee if you wish to file a consumer proposal with your creditors.
Once you have worked out a fair proposal your trustee will present it to your creditors who must vote on accepting the consumer proposal.
Even though your creditors can vote to reject your proposal plan it is very rare that they do so.
The reason for this is because your trustee is very experienced at working out agreeable proposals that they know have a very high (99% of the consumer proposals drafted with the help of our Licensed Insolvency Trustees) chance of being accepted.
Your creditors will receive more money in a consumer proposal than if you were to go bankrupt, so they are inclined to accept consumer proposals in almost every case.
Once your consumer proposal is accepted it becomes a legally binding agreement between you and your creditors.
A consumer proposal is a debt repayment plan that can last for up to 60 months.
When you make a consumer proposal you can avoid bankruptcy, keep all of your assets, and avoid interest charges, collection calls, frozen bank accounts and wage garnishments.
To learn more about filing a consumer proposal please don't hesitate to contact us today to schedule your own personal debt help consultation with one of our friendly and licensed insolvency professionals.
Our friendly Licensed debt relief professionals understand how difficult a time this is for you.
This is why we always put you first when you turn to us for assistance with consumer proposal services.
We always put you first and make sure you are taken care of in a caring and respectful manner.
Our Licensed Insolvency Trustees understand the value of meeting with a debt professional that puts you first.
We will always take the time to listen to your concerns and make sure you feel comfortable dealing with us.
Our team of friendly Licensed Insolvency Trustees are ready to give you their expert opinions when you are ready.
If you are dealing with debt and are struggling to manage your finances we know it can be difficult to know what to do next.
There are many solutions available to you and we understand it can be difficult to know how to proceed.
At Bankruptcy Canada we have friendly and experienced debt experts in your area who can meet with you to help you understand the right solution to your unique money problems.
With our caring assistance we can help you explore all of your debt options and help you choose the correct path towards getting out of debt.
To learn about the debt relief options provided by the Licensed Insolvency Trustees of BankruptcyCanada please request a confidential debt consultation through our online form or by calling 877-879-4770 today.
All of the Licensed Insolvency Trustees of Bankruptcy Canada are members of CAIRP (Canadian Association of Insolvency and Restrucuring Professionals).
CAIRP is the governing body that advocates for the insolvency (bankruptcy and consumer proposal) process in Canada.