Whether it’s because you work under contract or your business has announced some closures, being concerned about the security of your job is stressful. Combine that with extra credit card debts and you worry about whether... Read more »
We’re always happy to hear when someone has successfully completed consumer proposal. We specifically deal with consumer debt to help individuals get their fresh start. Here’s a recent email we received from a former client:... Read more »
I’d like to tell you about someone who came to talk to me about filing a consumer proposal. I’ll call him Paul (not his real name). What makes this an interesting story is that at his initial consultation meeting... Read more »
Earlier this month we addressed the question – what are your creditors expecting to receive in a proposal. The next logical step in the negotiation process is to consider how long you should expect to... Read more »
While the cost of a consumer proposal varies for each person based on their income, assets and debts, typically consumer proposal payments result in settling your debts for around 30-40% on the dollar. We explain... Read more »
Why do I tell people I meet with that a consumer proposal is a “win-win” scenario? A consumer proposal is a win for both debtors and creditors because both parties end up with a benefit... Read more »
If you file a consumer proposal with Hoyes Michalos, you have a 99% chance that your proposal will be accepted by your creditors. You read that correctly: our consumer proposal acceptance rate is 99%! Our proposals... Read more »
Most of us don’t want to consider going bankrupt if we can avoid it. Declaring bankruptcy can cause embarrassment, result in the seizure of your assets, and can actually be an expensive method of solving... Read more »
Violet R. (not her real name), widowed, 57 years old, $116,830 in debt, Brampton,Ontario Dear Ted/Doug: I am very grateful to you for meeting and educating me on the consumer proposal process. It was scary... Read more »
A consumer proposal is a deal that we negotiate with your creditors to settle your debts. In most cases the big banks and credit card companies will accept a consumer proposal if they will be... Read more »
Proposals to creditors are a great way for many people to deal with their debts, without having to file for personal bankruptcy in Ontario. Today we answer the question: “What is the debt limit in... Read more »
A consumer proposal is an arrangement made with your creditors to settle your debts for less than you owe. Most people make monthly proposal payments over a period of up to five years. However, what... Read more »
As part of what I do, I often get a chance to talk with creditors. In speaking with a representative of one of Canada’s large banks, we discussed how they decide whether or not to... Read more »
Debt Relief Experts