A consumer proposal is often an excellent option for individuals who have significant debt, but who also wish to avoid bankruptcy.
There are many benefits to filing a consumer proposal:
Avoid bankruptcy | |
Consolidate your debt into one single, affordable payment for a period of up to 5 years | |
Immediately upon the filing of a consumer proposal:
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You will not lose any of your assets, including your home, your vehicle, your RRSP and your investments | |
There is no requirement to make any payments to your unsecured creditors other than the payments you make under the proposal – there are no surplus income payments to be made if your income increases during the proposal period | |
Trustee fees are included in the amount which you offer to your creditors – you will generally not directly pay the trustee for any of our services provided | |
In many professions, bankruptcy can affect your professional accreditation, or your ability to fully practice your profession. Professional licenses are often unaffected by your filing of a consumer proposal | |
If you own a corporation, you may remain as a director of it; if you file bankruptcy, you may not remain or become a director of a corporation until you are no longer bankrupt. |
Let us help you achieve debt freedom.
Call us today for a free consultation:
416-224-4200
info@ontariodebtfree.com