Filing a Consumer Proposal to consolidate and settle debts in BC can have many benefits and advantages over other debt solutions.

Some general benefits of filing a Consumer Proposal include being able to:

  • Consolidate debt
  • Reduce amount of debt that needs to be repaid (in full settlement)
    Debt can often be cut by up to 80%
  • Stop interest and collections
    By law all interest will stop, and creditors must refrain from contacting you for payment 
  • Have a definite date of being “debt-free”
    Consumer Proposal can last no more than 60 months and can be paid off early without penalty
  • Deal with virtually all types of debts
    Even government debts like taxes, student loans, WCB, MSP, etc.
  • Protect assets from creditors
    Collection and legal action cease upon filing the Consumer Proposal
  • Avoid filing bankruptcy.

Watch our short video: What are the benefits of filing a Consumer Proposal?