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
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A Consumer Proposal is your Chance
for a Fresh Start.