Consumer Proposals in Simcoe

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A Consumer Proposal in Simcoe can help you

Do you wish to pay off your debt in Simcoe? Then, Consumer Proposal must be your primary choice. A Consumer Proposal offers the creditors the repayment of your debt, making it favorable for the person who owes them money. Moreover, a Consumer Proposal in Simcoe helps you to:- 

 

  • Lower interest payments
  • Decrease the balance 
  • Extend the length of the loan
  • Stop wage garnishments
  • Puts a full stop to lawsuits
  • Cease creditors from calling you

What Is A Consumer Proposal?

 

In general, a consumer proposal is a formal agreement with your creditors. It shows that you want to honor your commitment to pay the debt before it becomes unmanageable.

 

Who Can File A Consumer Proposal For You in Simcoe?

 

Only a Licensed Insolvency Trustee (LIT) can develop a consumer proposal in Simcoe. A consumer proposal is a formal offer that binds you and the creditor in the presence of LIT. It is limited to five years. A consumer proposal offers to pay the creditors a percentage of the balance, extend the time to pay, or both. You make the payments through the LIT at Simcoe, which sends the money to your creditors.

Is A Consumer Proposal A Right Choice For Simcoe Residents?

Not necessarily. If you owe less than $1,000 or over $250,000, it is unlikely that you will fall under the qualifications. To decide if you qualify and if the action is appropriate for your circumstances, contact a Licensed Insolvency Trustee in Huntsville.

Avoid Bankruptcy with a Consumer Proposal in Simcoe

Bankruptcy is not the only solution when you undergo financial troubles. Several instruments are available to help you with debt in Simcoe; one is the Consumer Proposal. To pick the best course of action, you must schedule an appointment with one of the accredited debt counselors in Simcoe. You can handle this over the phone, via video conference, or in person. 

All the meetings are confidential and free of cost. Finally, our professionals at Dana MacRae – Licensed Insolvency Trustee in Simcoe, helps you to find the best possible solution to your unsolved debt problems.

Contact our office for more detailed information about this process and your situation.

Bankruptcy is not your only option

Bankruptcy is not the only solution when you are in financial difficulties. Canada offers a number of options; among them is the Consumer Proposal. However, that is not the only alternative.

In order to determine the best course of action, you should arrange an appointment with one of our accredited debt counsellors. You can handle this over the phone, video conference or in person.

It is free, and you are under no obligation to proceed. All of our meetings are completely confidential and we in no way judge your actions.

Articles we prepared on Consumer Proposals in Simcoe

Can a consumer proposal affect my partner?

Can a consumer proposal affect my partner?

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...

Can you file twice for a consumer proposal in Waterloo?

Can you file twice for a consumer proposal in Waterloo?

You may have previously cleared debt by filing a consumer proposal in Waterloo and have again found yourself in another debt that requires you to file another consumer proposal to pay it off. When you find yourself needing another consumer proposal to pay off debt...

Home Equity Loans VS Consumer Proposals

Home Equity Loans VS Consumer Proposals

Introduction You might be hoping for a way to consolidate your debt if you are struggling with credit card debt or paying multiple loans every month. A home equity loan might be the best option for you. Although there are various uses to home equity loans, homeowners...

Consumer Proposals vs Personal Bankruptcy: Which is better?

Consumer Proposals vs Personal Bankruptcy: Which is better?

Introduction Most citizens file for personal bankruptcy or consumer proposals in Canada, making them the best insolvency options for a person facing financial troubles. Consumer Proposals and Personal Bankruptcies are under the Bankruptcy and Insolvency Act. Each of...

Are you dealing with Debt problems? Solutions are here.

Are you dealing with Debt problems? Solutions are here.

Debt Problems: Introduction Debt problems are not always sudden. Even so, it's a fact that financial difficulties can arise suddenly and unexpectedly, like the loss of a job or a vehicle breakdown. Debt problems can be of all sizes, from being a few hundred dollars...

We can help you determine whether a consumer proposal is right for you

A Consumer Proposal is your Chance
for a Fresh Start.

Call for a free and confidential consultation at

1-800-665-9965

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