Consumer Proposal in Guelph, ON

How to File a Consumer Proposal

Filing a consumer proposal to your creditors can be a challenging thing to do.

There are many rules and obligations you must know about.

Fortunately, our consumer proposal administrators (a Licensed Insolvency Trustee) is here to help you through the entire process.

Our friendly, experienced and approachable team is here to help you get out of debt, whether it is through a consumer proposal or filing for bankruptcy.

A consumer proposal is an increasingly popular alternative to going bankrupt, because it offers many benefits over personal bankruptcy.

Our Proposal Administrators have helped thousands of Canadians resolve their financial problems with consumer proposals.

We can help you solve your debt problem too!

Our knowledgeable debt help experts are ready to meet with you to expflain how a consumer proposal works, how it can benefit you, the legal protections you will receive when your proposal is accepted, and how you can structure a proposal that your creditors will agree to.

We start by scheduling a confidential evaluation so we can learn about your financial information and debt history so we can formulate a consumer proposal plan that will work for you and your creditors.

Once we have a solid understanding of your situation we will prepare the necessary forms for you to sign and submit the proposal plan to your creditors.

The steps in a consumer proposal are as follows:

• Call your local consumer proposal administrator office to arrange your free initial evaluation,
• Speak with your debt help expert about all of your options for getting out of debt to determine if a consumer proposal is the right way for you to get out of debt,
• If you decide to proceed with a consumer proposal, you will receive guidance and advice from your proposal administrator throughout the entire proposal process,
• Your consumer proposal is filed with your creditors (Once the consumer proposal is filed with your creditors, you will stop making payments to your unsecured creditors and you will receive protection from collection actions),
• Your creditors will vote on whether to accept your consumer proposal (almost all proposal are accepted, because your creditors will receive more money than if you go bankrupt),
• Once your debt proposal is accepted, you fulfill the terms of your proposal by making the monthly payments or the single lump sum payment as agreed,
• When you successfully complete your proposal, you will be debt free and you will have your fresh financial start.

Please contact our friendly team today to learn more about consumer proposals in Guelph.