Division 1 Proposal – How Is It Different
Filing a Consumer Proposal is one the most popular alternatives to going bankrupt in Canada. It is a legal agreement between you and your creditors to negotiate the repayment of the money you owe. Usually the debtor can ask for a reduction of the debt owed and a new prolonged payment plan....
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consumer proposal cra
Consumer Proposal & Canada Revenue Agency
If you owe money to the CRA filing a Consumer Proposal may help. Canadian Revenue Agency is considered an unsecured creditor and provided your income and debt situation meets the general proposal guidelines there should be no problems with CRA giving you a “break”. If this is the firs...
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