We can Help you Make a Deal with Your Creditors called a Consumer Proposal to Pay-Off your Debt
Here we will outline everything that you need to know about consumer proposals and how they can help you become debt free. Watch our video to learn more.
What is a Consumer Proposal?
A consumer proposal is a legally binding agreement allowing you to pay most or all of your unsecured debts over time. By filing a proposal your credit card debt is reduced, wage garnishments end, and your creditors stop calling you.
What are the Benefits?
- Most wage garnishments and collection efforts stop immediately
- Interest stops accumulating immediately
- You have a better chance of not losing your home or other assets
- In most cases you repay only a portion of your debts
- You are debt free in five years or less
- Surplus income payments are not a factor
- Your credit score is generally less affected as you do not typically receive the lowest rating
- Payments are decided ahead of time, bringing you control and assurance
- If your income increases after your proposal is accepted and final, your payments will stay the same, and not increase with your income
- You are still entitled to tax refunds and credits that you are owed
For more information Contact an Expert today to get help with your debt.
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