What are the benefits of a consumer proposal?

The benefits of a consumer proposal are considerable and consumer proposals can be drafted to be as unique as an individual’s circumstances.

The following list identifies some of the benefits of a consumer proposal:

  • Helps avoid bankruptcy
  • Stops interest on lines of credit, credit cards and more.
  • Replaces multiple monthly payments with a single payment
  • Permits loan payments to be extended over a longer period of time
  • Stops legal action for the collection of debts
  • Stops the enforcement of judgments
  • Stops harassing collection calls
  • Allows an individual to keep their assets
  • Stops garnishments
  • Permits you to deal with government debts and taxes
  • Proposals are a tool to help individuals, who are having financial problems, negotiate a fair payment plan with creditors.