Do you need debt relief? If you’re working or have a steady income, a consumer proposal may be a better alternative than bankruptcy. A consumer proposal protects your assets and settles your debt to unsecured creditors.
A consumer proposal stops interest from building up on your debt, stops collection calls, and stops wage garnishments. In a consumer proposal, you pay back a smaller, reduced portion of your total debt with one monthly payment over a period of five years or less. It can be paid off at anytime.
A consumer proposal is an alternative to bankruptcy made for people who can’t afford to pay back unsecured creditors. Working with a Licensed Insolvency Trustee, you can reach a new agreement with your creditors to pay back a reduced amount. Your monthly debt payments are based on your income and what you can afford to pay. A consumer proposal is a fair solution for everyone involved.
What kind of debts are covered by a consumer proposal?
All of your unsecured debts are covered by a consumer proposal. That means credit card debt, unpaid utility bills, payday loans, and even money owed to the Canada Revenue Agency. A consumer proposal is for debts under $250,000 (not including your mortgage). If you owe more than $250,000 you may be eligible for a Division 1 Proposal. Talk to a Licensed Insolvency Trustee about getting out of debt with a consumer proposal.
At David Sklar & Associates, Licensed Insolvency Trustees, we do more than offer professional insolvency related services.
We help people who have caught up in a financial crisis, find a way through a difficult time and onto a better life.
Since 1997, we have helped thousands of people deal with their debt problems, and move onto brighter futures.
From individuals to mid-sized businesses,
We Can Help!
If your debt problems seem insurmountable – we can help. At David Sklar & Associates, our Licensed Debt ProfessionalsTM have the experience and knowledge to help you get out of debt. During your consultation, we will help you understand what your current financial situation is, how best to fix it, and how to move on to a better life. With six offices in the Greater Toronto Area – we are here to help.
Call us today at 416-498-9200 to book your Free Consultation.