Consumer proposals allow you to repay a portion of what you owe without the impact of bankruptcy.
Here's a simple guide.
Repay a portion of what you owe without the impact of bankruptcy
File your consumer proposal through a Licensed Insolvency Trustee. It is a viable restructuring option for over 45,000 Canadians a year, allowing the consumer to seek legal protection from their creditors under a Federal Statute (Bankruptcy and Insolvency Act) whereby a debtor usually only repays a portion of what they owe interest-free.