We take a three-step approach to our consumer proposal solutions:
- 1. We thoroughly review all your finances during your free consultation. If a consumer proposal is right for you, we help determine what the terms should be, recommend what terms are likely to be accepted, and offer you a monthly payment that works for you.
- 2. We prepare the consumer proposal documents and review them with you. Once you sign, we file them with the federal government immediately. Once they’re filed, consumer proposals immediately stop all collection proceedings, collection lawsuits, wage garnishments, and bank account seizures. Upon the filing of the consumer proposal, we will immediately ensure that all collection actions that may be stopped are terminated.
- 3. We notify you of the creditors’ response to the consumer proposal. If they are not initially prepared to accept the consumer proposal, we determine what payments and terms they’re looking for. If necessary, we prepare an amended consumer proposal for you to sign in order to obtain the creditors’ approval.
What is a Consumer Proposal?
A consumer proposal is a comprehensive solution to your budget and debt-management challenges. Simply put, it proposes an alternative set of terms between you and your creditors that are more practical and feasible on your end while ensuring your creditors get paid.
Overseen and regulated by the federal government, Licensed Insolvency Trustees and Consumer Proposal Administrators ensure you get fair, honest, ethical, and professional treatment. Consumer proposals alleviate stress by stopping collection calls, garnishments and lawsuits. You will also develop budgeting, saving, and money-management skills along the way, helping you get back on your feet financially.