Consumer Proposals in Cambridge
A Consumer Proposal in Cambridge can help you
Most people have financial struggles. Some people struggle with credit and debit management. A Consumer Proposal is the best solution. It offers creditors the repayment of your debt, making it favorable for the person who owes money. Consumer Proposal offers:-
- Lower interest payments
- Decrease the balance
- Stop wage garnishments
- Extend the length of the loan
- Sets a full stop to lawsuits
- Cease creditors from reaching you
What Is A Consumer Proposal?
A consumer proposal is a formal agreement with your creditors. A consumer proposal shows that you want to honor your commitment to pay the debt before it becomes unmanageable.
Who Has the Privilege to File A Consumer Proposal in Cambridge?
Like all other cities, only a Licensed Insolvency Trustee (LIT) can administer a consumer proposal in Cambridge. A consumer proposal is a formal submission that binds you and the creditor in the presence of LIT and is limited to five years. A consumer proposal can buy you time to pay your debts or reduce debt payments. You make the payments with the support of LIT, which sends the money to your creditors.
Is A Consumer Proposal Right Option for Cambridge Residents?
Not necessarily. You will unlikely fall under the qualifications if you owe less than $1,000 or over $250,000. However, mortgage debt, and other exclusions, make you a candidate. If you owe less than $1,000 or $250,000, contact a Licensed Insolvency Trustee in Cambridge.
Schedule an appointment at the office or book a home consultation with our Dana MacRae Cambridge Insolvency Trustee, who has been serving the Cambridge area for over 20 years.
Avoid Bankruptcy with a Consumer Proposal in Cambridge
Bankruptcy is not the only answer when you undergo financial troubles. To pick the best course of action, you must schedule an appointment with one of the accredited debt counselors in Cambridge. Several instruments are available to assist you with debt in Cambridge, one of which is the Consumer Proposal.
Dana MacRae is a Licensed Insolvency Trustee that offers credit management, proposals to creditors, and bankruptcy services to Cambridge residents. All the meetings are confidential and free of cost. You can handle this over the phone, via video conference, or in person.
Contact our office for more detailed information about this process and your situation.
Bankruptcy is not your only option in Cambridge
Bankruptcy is not the only solution when you face financial struggles. Canada offers several options; one among them is the Consumer Proposal. However, that is not the only alternative.
To determine the best course of action, you should arrange an appointment with one of our accredited debt counselors. You can handle this over the phone, via video conference, or in person.
It is free, and you are under no obligation to proceed. All our meetings are confidential, and we in no way judge your actions.
Articles we prepared on Consumer Proposals in Cambridge
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In Canada, a consumer proposal is a judicial debt settlement agreed with creditors to reduce your debt, administered by a Licensed Insolvency Trustee. The consumer proposal must be paid within five years or less with the help of monthly payments. Being a great...
A Consumer Proposal is a legally binding choice to forgive the debt, in which you give back a portion of what you owe to your creditors without paying any interest. Only Licensed Insolvency Trustees (LITs) can administer Consumer Proposals, and they conduct any...
The consumer proposal might be an ideal way to overcome your debt, but it can damage your credit ratings. Your credit score is closely connected to your credit report since the report contains all your missed or late payments. However, it is deleted from your credit...
Filing for a consumer proposal can be an intelligent way to protect yourself from creditors and negotiate to pay off a portion of your debt. But have you ever thought about how a consumer proposal affects your home? What is a Consumer Proposal? A legally binding...
Selecting a debt advisor is a crucial step in your overall debt recovery. Licensed Insolvency Trustees (LIT) are Canada's only federally regulated debt advisors. The Licensed Insolvency Trustees outline your options and advise you on how to get out of debt and obtain...
A Licensed Insolvency Trustee, or LIT, licensed by the federal government, is the only professional authorized to file consumer bankruptcies and proposals. As of 2016, Bankruptcy Trustees in Canada have been renamed Licensed Insolvency Trustees, as they deal with more...
A Consumer Proposal is your Chance
for a Fresh Start.