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Consumer Proposal in Cobourg, ON

Cut 70% Of Your Debt. Save Your Home and Car!

What is a consumer proposal, and how do I know if it the best option for my debt problem?

One way to get out of debt is to file a consumer proposal in Cobourg.

As a legal process to deal with debts, the consumer proposal is governed by the Bankruptcy & Insolvency Act.

A consumer debt proposal is an agreement between you and your unsecured creditors to repay a portion of the debt that you owe.

The amount you repay will be a fair agreement for you and your creditors.

In many cases you will repay less than you owe and the repayment agreement is based on your income and the assets you own.

Oftentimes in a consumer proposal you can repay as little as 30 cents on the dollar.

The consumer proposal agreement will be worked out with the assistance of your local consumer proposal administrator (a Licensed Insolvency Trustee).

For example, your consumer proposal could be a plan to repay $300 a month for 36 months.

You must work with a licensed insolvency trustee to file a consumer proposal, as only trustees are licensed to provide Cobourg consumer proposal services under the Bankruptcy and Insolvency Act.

Your Trustee, acting as your consumer proposal administrator, will take a small fee out of your monthly payment to administer your proposal.

This means you won't have to pay any extra for the trustee and their services.

A consumer proposal becomes legally binding once a majority of your creditors (by dollar amount owed) vote to accept your proposal plan.

In some cases your creditors might request you to modify your proposal but this very rare as our proposal administrators have a lot of experience and skill in drafting proposals that are attractive to your creditors.

We know what your creditors are looking for and how to present a proposal that is attractive to them.

Consumer proposals are almost always accepted because the only rule in drafting the proposal is that it must pay your creditors more than they would receive if you were to go bankrupt, so they are inclined to almost always approve your debt proposal, especially since you will work out the debt proposal with your Trustee.

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A. Farber & Partners Cobourg, ON Licensed Insolvency Trustee

253 Division Street
Cobourg, Ontario K9A 3P9
Phone: 1-844-294-7980

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.

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In order to see if a consumer proposal in Ontario is right for you, you need to meet with one of our debt experts for a free consultation.

Contact us if:

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  • Your bills are constantly piling up
  • Creditors are taking collection actions against you
  • You struggle to make the minimum payments on your debts
  • You are stressed because of your overwhelming debt situation

How our Consumer Proposal Solutions Can Help You

A consumer proposal is a popular alternative to bankruptcy that is available for all Canadian debtors with unsecured debts of $250,000 or less.

If you decide to proceed with our consumer proposal services, your licensed insolvency trustee, acting as your consumer proposal administrator, will contact your creditors to arrange an affordable debt repayment plan with a single monthly payment for a set period of time.

Often you will repay about 30 or 40% of your total debt owed under a consumer debt proposal plan.

Many people can avoid going bankrupt by taking advantage of a consumer proposal.

Proposal filings are gaining popularity all across Canada!

You can learn more about a consumer proposal by scheduling a FREE, no obligation, no pressure consultation meeting.

People that benefit from our services include:

Debtors that can't afford to repay all of their debts but can afford a fair payment agreement each month
People that are dealing with stress and worries due to their overwhelming debt
Debtors dealing with collection calls, wage garnishments and frozen bank accounts

Other BankruptcyCanada Debt Solutions

We are here to help Canadians with all kinds of debt relief solutions.

We have been helping people for over 20 years and we have the experience and knowlege to help you get out of debt.

In addition to consumer proposal services, we offer other debt relief solutions as well.

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Filing Bankruptcy

Bankruptcy allows you to get out of debt in the quickest and most cost affordable manner.
You will be able to keep your car and home in many cases and can be out of debt in as little as 9 months.
To learn more about going bankrupt, you can contact our Licensed Insolvency Trustees for a free debt relief evaluation.

If you are experiencing financial difficulties we can help you find the right path to becoming debt free, including making a debt proposal to your consumer creditors.

To learn how we can help you improve your financial situation please don't hesitate to contact us today to arrange a free confidential evaluation to discuss your financial situation.

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.

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Get a Free
Confidential Consultation

A Bankruptcy Canada Government Licensed Debt Professional will contact you as soon as possible.

Local Office Address

Local Offices
253 Division Street,
Cobourg, Ontario
K9A 3P9

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"You are a life-saver."
"I was struggling with debt for many years. Finally I got up the courage to speak with a Consumer Proposal Administrator With BankruptcyCanada. Wow! You guys are a lifesaver. You Showed Me How to Save My Car, My Home and How to Get the Creditors to Stop Calling." Joan - Toronto, ON


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.