The consumer proposal advantages include;
- filing a consumer proposal avoids filing for bankruptcy
- when approved the consumer proposal reduces your debt by up to 70%
- no assets including homes, vehicles and personal possessions can be seized for sale
- all interest is stopped, and no further interest can be added to the debt
- if you have a steady job, most people will qualify
- filing for a consumer proposal is less than filing for Bankruptcy
When your debts are more than you can manage and you have a steady job, a consumer proposal can be a wise choice.