Pro’s and Con’s of Consumer Proposal
Thousands of Canadians are choosing a consumer proposal as their debt management option because of the many benefits it offers. In this article we’ll go over some of the negatives and positives that come with filing one. Would you prefer good or bad news first? Let’s get the bad out ...
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consumer proposal calculator toronto
Consumer Proposal Calculator: Canada
In Ontario, the most effective way to obtain relief from debt without filing for bankruptcy is through a Consumer Proposal. A Consumer Proposal is a legal agreement between you and your creditors (including income tax owing to CRA) that stops interest from accruing on the amount owed, and ...
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What Happens When You Declare Bankruptcy In Canada?
Filing personal bankruptcy in Canada may not be exactly what you expect. Bankruptcy is a legal process, governed by federal legislation (The Bankruptcy and Insolvency Act), and it is different in Canada than it is in the US, which often causes misconceptions for people considering bankru...
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What is a Consumer Proposal in Ontario?
Consumer Proposal 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 amount owed and a prolonged payment plan, while keeping some of the assets like a vehicle, home or RRSP. Some of ...
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Q & A
What is Bankruptcy? Bankruptcy is a legal proceeding available to a person or corporation in order to cope with a financial crisis. One of the main purposes of the bankruptcy legislation is to give a person who is hopelessly burdened with debt, the opportunity to make a fresh financial st...
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