Stopping Collection Calls With a Consumer Proposal
One of the biggest values for stressed and indebted consumers is the ceasing of collection calls upon filing consumer proposals.
These frequent communications can impact both mental and physical welfare of the consumer (who is already facing financial difficulty).
With consumer proposals, your collection calls should stop within a week of your filing.
The process of a consumer proposal includes informing your credits of the action and having the majority of the stakeholders agree to the terms.
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This means that, once officialised, all of your creditors are fully aware of the situation.
Typically, it is but a matter of days of your filing when the Trustee managing your file will inform your creditors of the process being enacted.
Bear in mind that communication generally operates over email, mail, or via facsimile.
The method of sending will impact the timeline for the collection company to receive the information and take you off of the calling schedule.
The good news is that, by law, once you file the proposal, creditors cannot contact you.
The trustee manages all communications pursuant to the proposal and any creditor must proceed according to the allotted steps.
If you are in a situation where, after filing, you are still receiving these cumbersome phone calls, just tell the creditor that you filed the proposal.
Inform them that, if they haven’t already, they will receive the notice soon.
If you are concerned, reach out to the trustee managing your file to make certain that they sent the notice to that creditor (and the others).
You deserve reprieve from the stress of collections and debt management.
By retaking the reins of your financial fate, you ensure yourself a brighter and happier future.
Information on Consumer Proposals
Consumer Proposals in Canada – An Alternative to Bankruptcy
What is a Consumer Proposal?
What are the Benefits of a Consumer Proposal?
What are the Steps in a Proposal?
What Debts Are Erased in a Consumer Proposal?
Is There Life After a Proposal?
Consumer Proposal Eligibility
How to Amend a Consumer Proposal