Applying for Credit during a Consumer Proposal
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...
Does Consumer Proposal remain on Credit Report all the time
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 a Consumer Proposal – Will I lose my home?
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...
Role of a Licensed Insolvency Trustee in Canada
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...
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