WHAT WE DO
Are you stressed and struggling to hit your minimum monthly payments? Are you ready to clear out your debts and start fresh without declaring bankruptcy?
If you’re living with daily stress over making ends meet, or feel at risk of losing your home, your car, and other treasured assets, then filing a Consumer Proposal can help you reset and get a fresh start without losing it all.
What is a
A Consumer Proposal is a debt relief program developed by the government of Canada and made available through the Bankruptcy & Insolvency Act as another way to handle debt instead of filing for bankruptcy.
When you file a consumer proposal, you’ll enter a formal arrangement that’s negotiated by a Licensed Insolvency Trustee (LIT) with creditors. The Trustee will work with you to develop a “proposal” to creditors where you offer to repay a percentage of what is owed. That amount is usually spread into even payments over five years.
What can a
do for me?
A Consumer Proposal can significantly reduce the amount you owe – sometimes by as much as 60-70%, and extend the time you have to pay off the debts. Unlike bankruptcy, when you file for a Consumer Proposal you can keep your major assets.