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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