Your creditors are becoming increasingly insistent. You receive formal demands, legal proceedings, seizures. The pressure is overwhelming. You just can’t keep up!
A consumer proposal just might be the answer to this unbearable situation.
A consumer proposal allows you to reduce monthly payments and spread them over several years.
Interest-free debt consolidation over five years with a potential capital reduction
No financial institution could make such an offer…
A consumer proposal makes it possible to:
Ø avoid bankruptcy
Ø retain your property, even items assigned as security; a secured creditor cannot terminate the financing agreement simply because you have filed a proposal, provided that you have not failed to pay capital and interest
Ø settle your debt easily by lightening monthly payments or spreading them over several years, without interest
Ø stay proceedings initiated by unsecured creditors and certain secure creditors, including the garnishment of wages
Ø prove your good faith by attempting to compensate your creditors
Ø follow very simple administrative procedures (often, acceptance by creditors and the court is presumed)
Ø file a joint consumer proposal
Ø avoid automatic bankruptcy should the proposal by rejected or cancelled
Ø avoid a Court appearance for bankruptcy (opposition from a creditor or second bankruptcy) and obtain an automatic release through the integral implementation of the proposal
Should you have any questions, do not hesitate to contact one of our insolvency professionals.
