Looking for options to reduced your debt? Wondering which option is best and comparing a consumer proposal vs bankruptcy vs a debt management plan?
There are many forms of debt relief in Canada. Each has their own benefits in terms of interest relief, settlement of debts and costs. Beyond this, different debt relief options carry different risks. Are you dealing with a licensed debt professional? What legal protection is available and more importantly, when does it kick in. What is the potential success rate of obtaining debt relief and what impact will each debt management option have on your credit report?
You can see a summary of this information in a handy infographic on debt relief options here: