I think you’ll really agree with me when I say that the debt industry is really confusing, especially when it comes to consumer proposal vs. bankruptcy. You have credit counselling societies, bankruptcy trustees, debt settlement firms, consolidation loans, consumer proposals, and a lot of different views on how you should deal with your debt. The … Continue reading Consumer Proposal vs Bankruptcy – How to Choose Wisely in 2025
Bankruptcy has serious consequences on an individual’s financial standing, which is why many Canadian debtors consider switching from bankruptcy to a consumer proposal instead. It is well known that a consumer proposal has less of an impact on your credit than bankruptcy, but is switching to a consumer proposal possible? In this article, we’ll explore … Continue reading Switching from Bankruptcy to Consumer Proposal in Canada
A question we often get asked when starting the consumer proposal process is what happens after filing a proposal. There’s a lot of things that will and can happen during the consumer proposal process, which is why we’ve decided to cover it all here today. In this article, we’ll take you through each step of … Continue reading Canada’s Consumer Proposal Process: Start to Finish
In this article, we will outline the steps you need to take when dealing with a demand letter from the CRA.
We hear this question all the time; what is a consumer proposal, and how will it affect me? A consumer proposal is a formal arrangement filed by a licensed insolvency trustee (LIT) under the Bankruptcy and Insolvency Act (BIA). It is a viable alternative to bankruptcy if your debts do not exceed $250,000 (not including … Continue reading What is a Consumer Proposal?
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