A Consumer Proposal is a Legal Agreement that Protects those in Debt
Consumer Proposal is a process that legally reduces and ultimately eliminates debt. By filing a Consumer Proposal your credit card debt is reduced, wage garnishments end, and your creditors stop calling you. Consumer Proposal is available only to Canadian consumer debtors.
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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 than in a bankruptcy
- 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.an Ontario customer
ConsumerProposals.com offers accurate information on Consumer Proposal, a legal insolvency solution overseen by the Office of the Superintendent of Bankruptcy Canada. Information offered on the site is reviewed by Licensed Insolvency Trustees. The site offers listings of Canadian Trustees and Consumer Proposal Administrators, and ways to contact them.
Our Administrative Office is located at:
401 Bay Street
Toronto, ON, M5H 2Y4
(No Trustees are available at this location.)
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