Explore the world of consumer proposals, a popular debt relief option for Canadians struggling with debt problems. Learn how this legal process allows you to negotiate with creditors to repay a portion of your debts while avoiding bankruptcy. Discover the benefits of consumer proposals, including protection from creditor actions, debt consolidation, and the potential to keep your assets. Find out if you qualify, how to file a consumer proposal, and what to expect during the process. Get information on working with a Licensed Insolvency Trustee, the role of the Office of the Superintendent of Bankruptcy, and how consumer proposals differ from other debt management solutions. Empower yourself with knowledge to make informed decisions about your financial future.
Quick Guide Link: Do you prefer a concise overview? Read our Consumer Proposal Guide for key insights.
Are you considering a consumer proposal? Contact Hoyes Michalos today for a free, no-obligation consultation with our Licensed Insolvency Trustees. We’ll help you understand if a consumer proposal is the right solution for your unique financial situation.
Are you struggling with inconsistent income and increasing debts? A consumer proposal may be a great option for your debt relief. This blog explains five things you need to know about them before filing.
Category: Consumer Proposals
Are you wondering what a consumer proposal repayment plan looks like? Doug Hoyes explains 2 benefits of using this form of insolvency with actual examples of how it can affect your finances.
Category: Consumer Proposals
Filing a consumer proposal is a debt relief strategy that offers many advantages if you qualify. Explore our guide on conducting a consumer proposal assessment and one of the benefits of a proposal.
Category: Consumer Proposals
Licensed Insolvency Trustees are regulated by the federal government but obtain licenses to work in each province in Canada. Find out how where you live impacts where to find a trustee to work with.
Category: Consumer Proposals
If you're going to file for a consumer proposal, we make sure your proposal payments fit your budget. In this blog, find out how to determine if you can afford payments.
Category: Consumer Proposals
Loans are available for individuals completing a consumer proposal. In this blog, learn about the pros and cons of borrowing to pay off your proposal earlier and 3 alternative ways you can do this.
Category: Consumer Proposals
Learning how to interview a debt advisor can be a useful skill if you are planning on filing for insolvency. Find out what a consumer proposal administer is, how they are licensed, associated fees and more.
Category: Consumer Proposals
Did you know there are rules in place when it comes to the way student loans are treated in an insolvency? Find out the rules to ensure your student debt is discharged or released in a consumer proposal.
Category: Consumer Proposals
Do you want to learn more about the negotiation process involved in a consumer proposal? We'll explain what creditors might expect in a proposal based on internal policy and who does the negotiating.
Category: Consumer Proposals
When you file for a consumer proposal, you offer your creditors an amount for your proposal payments. In this blog, find out what factors affect this and 3 steps you can use to calculate your payment terms.
Category: Consumer Proposals
If you are considering a consumer proposal to help eliminate your debts, you want your creditors to accept the terms of the proposal. In general, consumer proposals have a 99% acceptance rate.
Category: Consumer Proposals
Did you know that 99% of our consumer proposals are accepted by creditors? And that the Royal Bank makes up majority of creditors that vote against them? Doug Hoyes explains why here.
Category: Consumer Proposals
A consumer proposal has a legislated debt limit of $250,000. Find out what debts are included in that calculation and what options you have if you owe more than the allowable limit.
Category: Consumer Proposals
Consumer proposals are a very flexible tool when it comes to debt settlement. If you receive a lump sum before or during a proposal, find out how this can impact your proposal terms.
Category: Consumer Proposals
