Financial circumstances take unexpected routes in everyone’s lives. A consumer proposal helps you settle your financial problems by paying off your debts if they are at most $25,000. Yes, a consumer proposal is a formal contract under the Bankruptcy and...
Even though banks, credit unions, and mortgage lenders provide money, they think only some are candidates for a debt consolidation loan. Your application can be rejected, or you might get a loan offer with a rate of interest that won’t help you with your debt...
A consumer proposal is the best debt relief option for Canadian residents. But, filing a consumer proposal in Canada has its consequences. But is a consumer proposal good or bad? Under what occasions does a consumer proposal work as a way out of debt? When do the...
Before you file for Bankruptcy or a Consumer Proposal when you owe money to your bank, it is advised you should open a new bank account. Money owed to a bank can come from many sources, including unsecured debts such as credit cards, loans, or an overdraft account. It...
If you and your spouse constantly struggle to manage your debt, consider discussing debt management options available to you with a Licensed Insolvency Trustee (LIT). In this article, we highlight the Consumer Proposal, one of the debt management options, and the...
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