What is a Consumer Proposal?
Consumer Proposals are the number one alternative to personal bankruptcy in Canada. A Consumer Proposal allows you to settle your debts for less than you owe by making a “deal” with your creditors.
Click below to watch our video for a 1-minute overview of Consumer Proposals
Many people are interested in knowing how to quickly rebuild their credit after a Consumer Proposal. Click below to watch our short animated film outlining our 5-step “SANDS” plan to rebuild your credit
Consumer Proposals are often also called Debt Settlement Proposals. Click below to watch a short video outlining a real-life example of how a Debt Settlement Proposal can be used to eliminate $20,000 in debt over a period of 36 months.
Consumer Proposals allow you to make a legal arrangement, or debt settlement, with your creditors to have you pay off only a portion of your debts, extend the time you have to pay off the debts, or some combination of both.
This powerful tool has steadily gained in popularity in recent years. A Consumer Proposal provides a means to deal with an unmanageable debt load and can be a debt negotiation option for you without resorting to personal bankruptcy .
A Consumer Proposal can be made by a person who owes between $1,000 and $250,000, excluding mortgages on a personal residence. If the person’s debts are more than $250,000, a person may still file a Proposal, but some different rules will apply.
The first step in this process is to Contact Us for a free, confidential evaluation of your financial options.