Consumer Proposals in Woodstock

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A Consumer Proposal in Woodstock can help you

Do you want to overcome your unexpected financial struggles? Are you concerned about your debts in Woodstock? Then, Consumer Proposal must be your prior choice. A Consumer Proposal presents the creditors with the repayment of your debt, making it promising for the person who owes them money. Moreover, a Consumer Proposal in Woodstock helps you to:- 

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

What Is A Consumer Proposal?

 

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 Woodstock? 

 

Only a Licensed Insolvency Trustee (LIT) can develop a consumer proposal in Woodstock. A consumer proposal is a formal offer that binds you and the creditor in the presence of LIT and 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, which sends the money to your creditors.

Is A Consumer Proposal Right Option for you in Woodstock?

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

Schedule an appointment at the office or book a home consultation with our Dana MacRae Woodstock Insolvency Trustee. 

 

Say “No” to Bankruptcy with a Consumer Proposal in Woodstock 

Bankruptcy is not the only solution when you experience a financial crisis. Several tools are open to help you with debt in Woodstock; one is the Consumer Proposal. To pick the best course of action, you must schedule an appointment with one of the accredited debt counselors of Woodstock. You can manage 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 – a Licensed Insolvency Trustee in Woodstock, enable you to find the best 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 in Woodstock

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 Woodstock

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...

Mortgage deferments are almost up: A financial wake-up call.

Mortgage deferments are almost up: A financial wake-up call.

COVID-19 struck at the beginning of 2020, devastating millions of Canadians and reducing their income significantly. Renters struggled to pay their rent, while homeowners were worried about meeting their mortgage payments. The Canadian government made efforts to...

A list of alternatives to CERB repayment if you cannot pay it back

A list of alternatives to CERB repayment if you cannot pay it back

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What you should not do to pay your Consumer Proposal faster

What you should not do to pay your Consumer Proposal faster

You may be wondering what you can do to pay off your consumer proposal faster. You don't want to make any mistakes that will cost you more money or cause your debt to grow even more significant than it already is. The following blog post will discuss the things not to...

The benefits and disadvantages of paying a consumer proposal faster

The benefits and disadvantages of paying a consumer proposal faster

A consumer proposal is a legal document that allows individuals to repay their debts over time while avoiding bankruptcy. If you consider paying off your debt with a consumer proposal, there are benefits and disadvantages to consider before taking this step. To make...

How to pay off a Consumer Proposal Faster

How to pay off a Consumer Proposal Faster

A consumer proposal is an instrument available in Canada that legally binds you and your unsecured creditors, allowing for repayment of debts with reduced interest rates. A consumer proposal can reduce the total of your debt by up to 80%. You will cover that reduced...

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