Feb62025
If you’re considering a consumer proposal, you may be wondering about its long-term effects. A consumer proposal can be an excellent way to manage debt and avoid bankruptcy, but it’s essential to understand how it will impact your financial life moving forward. In this blog, we’ll cover everything from credit score implications to emotional and […]
Feb22025
If you’re in Ontario, Canada, and looking for a way to manage your debts without declaring bankruptcy, a consumer proposal might be the right path. It’s a structured solution where you negotiate reduced payments with your creditors, all under the guidance of a Licensed Insolvency Trustee (LIT). But how long does it actually take to […]
Jan242025
If you’re currently working through a consumer proposal, you might be wondering: can you pay it off early? The short answer is yes. But is it the right move for you? Paying off a consumer proposal ahead of schedule can open doors to faster financial freedom and better credit, but there are also some important […]
Jan222025
Dealing with debt can feel overwhelming, but a consumer proposal offers a structured way to regain control. However, if you’re considering this option, how will this affect my credit report? Understanding the impact on your credit score and knowing how to recover from it are key steps to getting back on track. In this guide, […]
Jan192025
If debt is weighing you down, a consumer proposal might seem the perfect way to hit reset. It’s a formal legal debt relief option available in Canada, offering a structured repayment plan that’s often more manageable, with a considerable portion of your debt being wiped out after all obligations are fulfilled. But before you jump […]
May62024
Whether you are going through a period of financial hardship, are burdened with credit card debt or have had a significant change in your income, there are many reasons why you may be behind on payments. A consumer proposal is one of the most common debt relief options chosen by Canadians struggling with debt. This […]
Jan82024
Financial difficulties can be overwhelming, and a consumer proposal might offer a workable debt relief option for many people. With a consumer proposal, you can make a manageable monthly payment to your unsecured creditors while stopping interest payments for up to five years. A consumer proposal is an effective approach to settling your debts if […]
Nov282023
A consumer proposal might be a lifeline for those overwhelmed by debt during hard financial times. A binding agreement between a debtor and their creditors enables debt repayment at a more reasonable pace. However, many people are unsure how a consumer proposal may affect their current auto loan or their ability to get a new […]
Oct42023
In today’s world, managing debt can be a daunting challenge. Many individuals find themselves overwhelmed by mounting bills, high interest rates, and the stress of financial instability. If you’re in this situation, you’re not alone. Fortunately, there are solutions available, and one of the most effective options for Canadians facing financial hardship is the consumer […]
Jun252023
Unfortunately, there is no consumer proposal payment calculator for Ontario or Canada. The cost of a consumer proposal varies in each case, depending on income, assets and debts. However, consumer proposal payments typically come to about 30-40% on the dollar. The logical follow-up question is: How are consumer proposal payments calculated in Canada? This blog […]
