Consumer Proposals

Consolidating Debt with a Consumer Proposal: Step-by-Step

Sep 12, 2022

Making a Consumer Proposal is one of the best ways Canadians can consolidate and cut their debt. Read on to learn about key benefits to Consumer Proposal debt consolidation, how the Consumer Proposal process works in BC, and the steps involved in starting and...Read more

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Is a Consumer Proposal Right for Me?

Aug 8, 2022

A unique alternative to both consolidation loans and personal bankruptcy, a Consumer Proposal is often one of the best options for Canadians to get debt relief. Read on to learn more about Consumer Proposals and whether making a Consumer Proposal could be the...Read more

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What Are My Debt Options if I’ve Done a Consumer Proposal Before?

May 26, 2022

Realizing you have a debt problem can be overwhelming, and if you’ve faced challenges with debt in the past you may have even more anxiety or uncertainty in figuring out how you can resolve your situation. If you find yourself with a debt problem again,...Read more

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Can I Get a Mortgage After a Bankruptcy or Consumer Proposal?

Apr 22, 2022

Home ownership is a common goal for many people, and as Licensed Insolvency Trustees we often work with individuals who are worried that using a legal debt solution to get out of debt will mean sacrificing this major future financial goal. Fortunately, credit...Read more

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What Does it Mean for Me if My Spouse Files a Consumer Proposal?

Mar 7, 2022

Although you and your spouse may not have a legal obligation to repay each other’s debts, the financial pressures and worries of dealing with debt are often shared, potentially impacting your household and adding stress to your important...Read more

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Learn About Your Options for Debt Forgiveness in Canada

Nov 19, 2021

Maybe you’ve seen advertisements for debt forgiveness programs, or you’ve been struggling with debt, or credit card balances that feel never-ending and wondering what, if anything, you can do about it. The good news is that there are two different options...Read more

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What’s the Best Plan for Consolidated Credit Counselling?

Oct 22, 2021

From understanding the differences in debt help professionals to deciphering the ‘fine print’ of the Canadian debt relief industry, the world of debt expertise can be a confusing place for those already overwhelmed trying to solve their challenges with...Read more

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10 Facts You Should Know About Consumer Proposals

May 3, 2021

Consumer Proposals are a powerful debt solution, a popular substitute to traditional consolidation loans, and Canada’s number one alternative to personal bankruptcy. Working with a Licensed Insolvency Trustee you will develop an offer to pay your creditors...Read more

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How do Consumer Proposals Compare to Debt Consolidation Loans?

Nov 16, 2020

Consumer Proposals are an increasingly popular choice for Canadians seeking to better manage their debts. Known for affordable monthly payments and flexibility, a Consumer Proposal can have many benefits over choosing to consolidate debt with a consolidation...Read more

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3 Things You Should Know About Debt Consolidation

Oct 6, 2020

Debt consolidation is often one of the first options people consider when facing debt management decisions, especially for dealing with credit card debt. Many consumers aim for a consolidation to simplify monthly payments, and hopefully even lower the monthly...Read more

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BC Consumer Debt Help: Do You Know Your Consolidation Options?

Sep 28, 2020

In the most recent annual BC Consumer Debt Study undertaken by Sands & Associates, roughly 30% of indebted consumers polled said they waited to seek professional debt help because they didn’t know where to seek it – and over 35% of people who later...Read more

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What are the Advantages of Filing a Consumer Proposal Instead of Declaring Bankruptcy in BC?

Sep 24, 2020

Consumer Proposals are a specialized type of debt consolidation that can be used to drastically cut debt with no added interest or fees. Used to settle virtually all debts, including government debts like income taxes and student loans, Consumer Proposal...Read more

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Debt Solutions for Having Government Debts Forgiven

Aug 26, 2020

There are many different types of debts and debt solutions available to Canadians, but not all are created equal. If you have general consumer debts such as credit card debt, balances for lines of credit, overdrafts or payday loans these can be resolved with...Read more

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What Happens After Filing a Consumer Proposal

Aug 14, 2020

Consumer Proposals are a powerful debt management solution offered exclusively by Licensed Insolvency Trustees that can allow you to consolidate your debt legally, without borrowing or resorting to bankruptcy. Because a Consumer Proposal is not a loan, it is...Read more

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Small Business Debt – Basics, Challenges & Solutions

Jun 19, 2020

In BC virtually anyone can become self-employed and take a shot at being their own boss – unfortunately, there’s no handbook explaining the financial ins and outs. Given the difficulties of starting and maintaining a successful business, it’s no...Read more

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When is Filing for Personal Bankruptcy the Best Option?

May 22, 2020

Although many people considering debt restructuring solutions first turn to borrowing with debt consolidation loans and think of personal bankruptcy as a last resort, there are many situations where filing a personal bankruptcy – or consolidating without...Read more

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Can a Consumer Proposal or Bankruptcy Help with Tax Debt?

Feb 20, 2020

Licensed Insolvency Trustees are often contacted by individuals and business owners who are looking for solutions to help them deal with Canada Revenue Agency (CRA) debts that they are unable to repay. If you are facing a balance owing to CRA for income tax,...Read more

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What’s the Difference Between Credit Counselling and Consumer Proposals?

Dec 5, 2019

At a first glance credit counselling programs and Consumer Proposals may sound much the same. Although there are some similarities between these two debt consolidation options, there are also some key differences to understand. Read on for an overview and...Read more

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Meet Tammy, Hear her Debt-Free Success Story

Nov 26, 2019

Unexpected life events can make it difficult to meet financial demands, and many Canadians find themselves struggling with money problems every year. We understand that it can be difficult to take the first step of asking for help, especially if you’re used...Read more

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Meet Peter, Hear his Debt-Free Success Story

Oct 23, 2019

Life events beyond our control often have serious long-term financial consequences. Despite many people’s best efforts, they’re sometimes simply unable to continue to manage their debts on their own. It’s important for consumers and business owners to...Read more

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Meet Ian, Hear his Debt-Free Success Story

Sep 30, 2019

Many people wait to seek help with their debts because they’re worried there is no solution to their situation, or they fear being judged for struggling to manage their finances. The truth is that money problems can happen to anyone, and there are real...Read more

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How Does a Licensed Insolvency Trustee Get Paid?

Sep 11, 2019

If you’ve been considering debt management solutions, you’ve likely discovered that there are several options available. You may also have learned that in Canada only one type of debt help professional is legally empowered and endorsed by the federal...Read more

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An Overview of Seize or Sue and Vehicle Loans in BC

Sep 3, 2019

As Licensed Insolvency Trustees we are often contacted by people who have vehicle loans or leases but can no longer afford to maintain their ongoing payments. In BC there are laws under the Personal Property Security Act (“PPSA”) that can help consumers...Read more

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An Overview of Wage Garnishment in BC

Jun 24, 2019

Wage garnishments or seizures are an extreme collection method that creditors may use to recover money owed to them. Facing a wage garnishment can be incredibly stressful and overwhelming, and many people don’t know what their rights and remedies are in the...Read more

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What You Need to Know Before Consolidating Debt

Jun 10, 2019

First off – what do we mean by ‘debt consolidation’? Debt consolidation is a term that you hear a lot, and it typically means that you combine all of your debt into a single monthly payment, rather than paying each of your debts separately each month....Read more

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