Consumer Proposals in Waterloo
A Consumer Proposal in Waterloo can help you
Do you wish to pay off your debt in Waterloo? 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 Waterloo 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 Waterloo?
Only a Licensed Insolvency Trustee (LIT) can develop a consumer proposal in Waterloo. 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, which sends the money to your creditors.
Is A Consumer Proposal Right For Waterloo 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 Waterloo.
Avoid Bankruptcy with a Consumer Proposal in Waterloo
Bankruptcy is not the only solution when you undergo financial troubles. There are several instruments available to help you with debt in Waterloo, one of them is the Consumer Proposal. To pick the best course of action, you must schedule an appointment with one of the accredited debt counsellors of Waterloo. 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 Waterloo 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 Waterloo
A Change in your Financial Situation after Filing a Consumer Proposal
Financial circumstances take unexpected routes in everyone's lives. A consumer proposal helps you settle your financial problems by paying off your debts if they are at most $25,000. Yes, a consumer proposal is a formal contract under the Bankruptcy and Insolvency Act...
Are Consumer Proposals Good or Bad? Disadvantages of Consumer Proposals
A consumer proposal is the best debt relief option for Canadian residents. But, filing a consumer proposal in Canada has its consequences. But is a consumer proposal good or bad? Under what occasions does a consumer proposal work as a way out of debt? When do the...
Can a consumer proposal affect my partner?
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Can you file twice for a consumer proposal in Waterloo?
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Home Equity Loans VS Consumer Proposals
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Are you a home owner or a tenant ? Dealing with debts during COVID-19 pandemic
Introduction The COVID-19 pandemic has created turmoil in people's lives for a long time. The real estate industry is no exception. Owning or renting a home can be an expensive undertaking during this pandemic. Other than the initial down payment, when you own a...
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 worried about your Credit Card Debt? Stay debt-free with these eight simple rules
Many customers struggle with credit card debt. Although getting yourself out of credit card debt can be challenging, it is possible. It just takes focus, proper guidance, determination, and a plan that works with your financial situation. Here are some simple rules to...
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.
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A Consumer Proposal is your Chance
for a Fresh Start.