Personal Debt Solutions Canada - Consumer Proposals

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"I really didn't want to go bankrupt and was relieved to learn that I could file a Consumer Proposal. "
~Lyn - Sooke


"I was so relieved to learn that I could go bankrupt, but still be able to keep my car. "
~Scott - North Saanich


"I never realized how easy everything could be"
~Ashley - Oak Bay


"Bankruptcy was a turning point in my financial life. I feel that I have turned a corner and will not make the same financial mistakes again. "
~John - Portage Inlet


Consumer Proposals

Do you have a good job yet still have trouble paying all of your bills each month?

Have considered filing for bankruptcy, but don't really want to?

Are you looking for alternate ways to deal with your debt load?

If you have answered yes to some or all of the above questions, filing a Consumer Proposal in Canada may be right for you.

What is a Consumer Proposal?

A Consumer Proposal is an agreement reached between you and your creditors for partial payment of your total unsecured debt. This legally binding agreement sets out the portion of the outstanding debt that you are responsible to pay (say 10 to 25% of your debt) and the portion of your debts that the creditors will agree to ignore (or write off). Generally a debtor can expect to write off at least 50% to 75% or more of their debts and not be subject to ANY ongoing interest charges. Each plan is different and must be fair to both the debtor and the creditors.

It is important to understand your options and what Canadian debt help is available to you. If you are considering bankruptcy but are somewhat uncomfortable with this choice, a Consumer Proposal may be your debt solution.

Your FREE consultation will be a face-to-face meeting where your local Insolvency Professional will review your individual debt levels and income situation to see if a Consumer Proposal is right for you. Our goal is that you will be able to walk away from this first appointment with a clear picture of the Canadian Bankruptcy and Insolvency system so you can make an informed choice with respect to your personal debt reduction options.

1. Is a Consumer Proposal the right decision for you? Some considerations.

2. Consumer Proposal vs. Personal Bankruptcy in Canada. What is the difference?

3.Who is eligible to file a Consumer Proposal in Canada?

4. What is the process of filing a Consumer Proposal?

5. Navigating the Consumer Process. Once you have filed, Now What?