A Consumer Proposal is a Legally Binding Agreement that Protects those in Debt.
It allows you to pay most or all of your unsecured debts over time. By filing a consumer proposal your credit card debt is reduced, wage garnishments end, and your creditors stop calling you.
Contact a Consumer Proposals Expert today to get help with your debt. Find a Trustee in Your Area
Get the latest in Consumer Proposal news and recently answered anonymous questions.
Confirming the discharge of my proposalNovember 17, 2015
I am a victim of being scammed, with no way to pay back debtNovember 15, 2015
What are the Key Benefits of a Consumer Proposal?
- Most wage garnishments and collection efforts stop immediately
- Interest stops accumulating immediately
- In most cases you repay only a portion of your debts
- You have a better chance of not losing your home or other assets
- You are debt free in five years or less
- You are still entitled to tax refunds and credits that you are owed
- 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
The “game” of thinking you can stay on top of ever-spiraling debt is just that – a game you cannot win.From Ontario
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