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?
To put it simply – If you are facing an overwhelming amount of debt that you are unable to repay, filing a consumer proposal might be a good option for you to consider. You should, however, review all options available and compare the pros and the cons of each. It can be tricky to get … Continue reading Who Should File a Consumer Proposal?
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