A Consumer Proposal is a legal process allowing a debtor to keep their assets and make a settlement with his/her creditors while avoiding bankruptcy. Contact us today to see if you qualify!
Consumer Proposal Application
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More About Consumer Proposals
The purpose of a Consumer Proposal is to provide a debtor or a bankrupt with an opportunity to keep their assets and modify his/her payments to creditors by extending the time for payment or reducing the amount to be paid, over a maximum period of five years.
Executions, garnishees, and other actions by creditors will be stopped once the Consumer Proposal is filed.
To qualify to make a Consumer Proposal, a debtor must owe between $1,000 and $250,000, and be a resident of Canada or have property in Canada. Citizenship is not a requirement to file a Consumer Proposal, therefore it’s a great solution for dealing with debt. An individual who has filed an assignment in bankruptcy may make a Consumer Proposal if the Inspectors, if any, have given their approval.
To speak directly with an expert, contact Debt Canada at: