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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.
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Mark Marshall BBA, C.I.R.P, L.I.T

Mark has been working in the Insolvency field since graduating from the University of New Brunswick with a degree in Business Administration (BBA). In 2012 Mark received his Chartered Insolvency & Restructuring Professional (CIRP) designation and attained his license as a Licensed Insolvency Trustee (LIT) in 2013.