Should I Do Consumer Proposal or File For Bankruptcy In Ontario?

Описание: https://rkillen.ca/consumer-proposal-... In this video we provide an overview between a consumer proposal and declaring bankruptcy in Ontario.

Is a Consumer Proposal Your Best Option for Debt Relief?
Many people choose Consumer Proposal over declaring Bankruptcy.

These are the types of debt you can include in a consumer proposal.
• Credit Card Bills
• Medical Bills
• Personal loans
• Payday loans
• Lines of Credit
• Some Student Loans
• You can also include money owed to the Canada Revenue Agency (CRA) for Income Tax and HST

What is a Consumer Proposal?
It is a legal process that results in an agreement between you and your creditors. The amount you pay back is usually less than the amount you owe. It is based on an amount you can reasonably be expected to pay. There will no further interest charges from your creditors

What benefits will you get under a Consumer Proposal?

• It immediately stops any lawsuits, garnishees and collection calls.
• It allows you to pay off your debts without filing for bankruptcy.
• Interest charges and penalties stop.
• You will be able to keep your assets such as your house or car as long as you continue to keep your mortgage or car loan in good standing.
• A consumer proposal is an effective way to make a settlement on your unsecured debt.
• It can be a good option if you don’t qualify for a debt consolidation loan.
• The amount you will need to pay will be negotiated with the creditors and will ultimately be based on what you can afford, not what you owe, unlike in a Debt Management Plan or a Debt Consolidation Loan where you are required to repay your debts in full.

Set up a FREE consultation with our office.
We can also accommodate after-hours appointments.

During the consultation, one of out trustees will outline all of your debt relief options based on your circumstances. It is important to note that only a Licensed Insolvency Trustee can provide you with all debt relief options.
Call Richard Killen & Associates to set up a FREE Consultation.
Cal 1-888- 545- 5365 or (416) 285-8511
It will be the most stress relieving call you’ll ever make!

For more information visit Richard Killen and Associates website at https://rkillen.ca/consumer-proposals...

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Richard Killen and Associates have 10 locations across the Greater Toronto Area.
To see all locations visit https://rkillen.ca/richard-killen-ass...

Richard Killen & Associates Ltd Scarborough West
2130 Lawrence Ave, E #402, Scarborough, ON M1R 3A6, Canada
Tel: +1 416-285-9511
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