Frequently Asked Questions About Consumer Proposals in BC
Consumer Proposals are a unique tool offered exclusively by Licensed Insolvency Trustees that allow a person to consolidate their debt legally, without resorting to bankruptcy or credit counselling programs.
One of the main benefits of a Consumer Proposal is that your consolidated debts are reduced to what you can afford to repay. Though each situation is unique, many Consumer Proposals are successful in offering 20-40% of the debt outstanding with no additional interest charges or costs of administration, and an affordable monthly payment. Because a Consumer Proposal is not a loan, they are accessible to many people regardless of their credit history or score.
Read some commonly asked Consumer Proposal questions to learn more about how Consumer Proposals work and what happens when you do a Consumer Proposal.
If you don’t find your question in the list below, please call our office toll-free at 1-800-661-3030, one of our qualified debt management specialists would be happy to help you.
Confidential consultations to discuss your situation and options are always free – book your debt consultation here.