Explore expert insights, practical tips, and real-life guidance to help you understand how consumer proposals work.
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Helpful articles to guide you through the process, answer your questions, and support your journey to becoming debt-free.
A consumer proposal is Canada’s most popular bankruptcy alternative. It is a legal debt settlement process in line with the Bankruptcy and Insolvency Act, whereby an individual works with a Licensed Insolvency Trustee to suggest an affordable monthly repayment figure to their creditors.
A consumer proposal is a legal debt settlement option available to Canadians who find themselves overwhelmed by their financial obligations.
There is a common misconception in Canada that all types of debt is bad. Good debt, however, is such a thing – provided you take on loans with a goal of investing in the future or learning new skills, it can be a wise move.
Struggling to make your monthly payments? In need of debt relief that will substantially reduce your monthly payments?
Now we have established that a consumer proposal can be rejected, you are likely wanting to know more about the reasons why.
Struggling with multiple debts that do not ever seem to disappear? Ready to get rid of your debt once and for all? If you are keen to gain debt relief, you may well have heard of both credit counselling and a consumer proposal.
A consumer proposal is a form of debt relief that is backed by the Canadian government.
When you file a consumer proposal, half of the battle is having it accepted by your creditors and the court.
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If you are looking for a consumer proposal example, you are highly likely weighing up the advantages of a consumer proposal and looking to file one yourself.
Not sure where to start? Our easy-to-use calculator helps you estimate how much a consumer proposal could reduce your debt.
“I can’t thank Spergel enough for their support and expertise during one of the toughest times in my life. Their consumer proposal not only reduced my debt significantly but also stopped the constant stress of creditor calls. Now, I’m able to focus on providing a stable future for my children without worrying about money. And, I can now sleep at night! Spergel truly gave me a fresh start.”
– Larissa, Ontario
It shows that once you face your debt and get the right help, life can get better – quickly. Discover more Success Stories of Canadians we’ve helped, or reach out to us.
Don’t take our word for it. See what some of our past clients have said.
Let’s find out if you qualify. Contact us to set up a conversation about your situation.
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From your phone, you will be connected with one of our Licensed Insolvency Trustees (LITs) during our regular business hours.
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