It’s not as uncommon as you think for someone to become debt free by filing a consumer proposal, and then, years later, face financial hardship again and require another plan to pay off debt. The... Read more »
Would you pay someone a 40% surcharge to refer you to a dentist? A doctor? How about to a lawyer? Probably not. With that same logic, you should never pay someone to refer you to... Read more »
A consumer proposal has a lot of advantages. It offers legal protection while you make a settlement offer to your creditors. It also allows you to negotiate payments you can afford while keeping assets like... Read more »
Repaying debt requires a stable income. Even when you’re in a debt relief plan like a consumer proposal, you need money coming in each month to make your payments. But what if you are faced... Read more »
4 Stages of a Consumer Proposal In Canada, a consumer proposal is not like bankruptcy for the following reasons: You don’t surrender your assets You don’t declare bankruptcy You avoid most of the duties required of... Read more »
You might be wondering if a consumer proposal is the right solution for you to eliminate your debts. For many in Ontario, it is. As an affordable repayment plan, it allows Canadians to achieve debt... Read more »
There is a legal remedy available in Canada called a consumer proposal. With a consumer proposal you negotiate a repayment plan with your creditors whereby you repay a portion of what you owe. There can... Read more »
Student loans are similar to all unsecured debts: they can be eliminated in a consumer proposal. However, there are special rules that apply to government guaranteed student loan debt. Specifically, section 178 (1)(g) of the... Read more »
Are you self-employed and struggling with debt? A consumer proposal may be a good option for you. It’s a legal debt relief process intended for individuals who can’t pay the full amount of their debts,... Read more »
A consumer proposal is a safe and reliable way to get out of debt but it can also be the cheapest in terms of monthly payments. This is because a consumer debt proposal combines two substantial... Read more »
A consumer proposal is just one option for dealing with debt. As a debt relief approach it has it’s own advantages and disadvantages over other programs that help you get out of debt. For example:... Read more »
A consumer proposal in Canada is a negotiated debt settlement arrangement made between a debtor and his creditors through a licensed Consumer Proposal Administrator under the Bankruptcy and Insolvency Act. So what happens when two... Read more »
When you need to file a consumer proposal, where to file depends on two factors: Who is legally able to file a consumer proposal for you; and How the Bankruptcy & Insolvency Act defines your... Read more »
Just like no two individuals’ debt problems are the same, no two consumer proposals will ever be exactly the same either. However the driving forces behind how a consumer proposal is negotiated do follow a similar pattern. Debt... Read more »
There are many factors to take into account when filing a consumer proposal. One of the most important factors is ensuring that the cost of your consumer proposal fits within your budget. When you are... Read more »
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