Consumer Proposal Examples

Examples of Consumer Proposals

Many times a Consumer Proposals can solve your debt issues and avoid you filing for bankruptcy.

How a Consumer Proposal Worked for me…

It was 2016 when I found myself facing a possible bankruptcy. I couldn’t believe this was happening to me. With my spouse continuously being laid off at work in the Oshawa auto industry and the fact that I did not file my taxes, our debts were huge. I had always been able to manage my finances, I looked for a miracle and then found YanchDey… Read More >

How a Consumer Proposal Got Me Out of Debt

I went to see Yanch Dey & Associates Ltd after I separated from my husband, I owed 42,000 dollars in credit card debt. Together the debt that we had accumulated was manageable, but I couldn’t afford to keep up the payments on my own. Having two children and I was scared about being on my own as a single Mom and having this debt. Read More >

What is a Consumer Proposal?

A consumer proposal is where you are unable to pay your obligations, debts and bills.

The proposal is a proposition or offer to your creditors where you agree to pay them a reduced amount on your loan, over a five year period or less.

The amount agreed upon will be less than what was agreed on at the beginning of the contract or loan. It’s in the best interests of the creditors to accept the terms rather that have you file for bankruptcy where they would receive even less.

When a consumer proposal is filed it’s a formal legal agreement that is prepared and filed under the Bankruptcy and Insolvency Act by one of our Proposal Administrators.

After you file a consumer proposal:

Any wage garnishments will be stopped,
No further interest will be applied to any debts you owe,
Collection companies and creditors must stop calling you about your debts.

Make an Appointment to Get out of Debt Today

After the filing the consumer proposal, the trustee then contacts the creditors you owe.

The proposal administrator advises the creditors that you have filed a consumer proposal and will make the monthly reduced payments on your debts.

You make one reduced monthly payment to pay off all your debts in five (5) years or less!

★★★★★ After years of struggling with credit card debts I was getting deeper and deeper in the hole. Finally a friend suggested I speak to YanchDey.

I made an appointment to speak with Kelli Dey who was non judgemental and explained how filing a consumer proposal would get me out of debt and pay off my outstanding loans to my creditors. Now I’m stress free, the calls have stopped and I will be free of debt in five years, Many thanks! Julie Davies, Oshawa.

More About Consumer Proposals

Yanch Dey Bankruptcy Trustees

4.2

Charles Pepin

15:51 25 May 18

Hello Kelly, Thank you for taking the time to explain the differences between bankruptcy and a consumer proposal. You made me feel very comfortable and at ease knowing I can make this work, and turn around my financial future and I really appreciate that.

Leeza V

09:05 08 May 18

Thank you !! I feel like a new person. I can finally sleep again after years of stressing about bills. The Trustee and staff at Yanch, Dey could not have been more helpful or given me a better solution!

Lane Carter

22:42 16 Apr 18

We were referred to you by our banker who said we would not go wrong choosing your firm. You have been compassionate and helped us along the way. It has been a long time and we are looking forward to a new beginning.

walter clare

15:20 10 Apr 18

I work with individuals, couples and families dealing with addictions and recovery. Over the years I have referred, many clients to Yanch Dey in order that they might get their financial affairs in order. The people at Yanch Dey are genuinely warm and caring about the people they serve. I conduct follow up interviews with all my referral clients. Without exception they express their deepest appreciation for the way they were treated. They are especially pleased with the results from their having been able to restructure their financial affairs. I do not hesitate to give Yanch Dey my highest recommendation.

Debbie C

17:41 04 Apr 18

Excellent customer care. Meeting set up very quickly, negotiated with my creditors resulting in me paying almost 1/2 of what I owed, taking me quickly out of debt. Have recommended friends and family to them and would do so again.

Darlene Allen

12:06 04 Apr 18

Yanch& Dey Associates I was very pleased the way they handled the negotiations with my creditors. I ended up paying a fraction of what I owed on my debt and had it payed off less then I expected.A few of my family members were in the same situation as me and were so happy with their outcome I find they have very good negotiating skills. YOURS TRULY D.A.

Ron Henderson

14:31 30 Oct 15

I would definitely recommend James Yanch and his staff. They were very kind and professional when handling my bankruptcy. My wife and I met with a few trustees and were very happy to find this office. We appreciate all their help.

Susan lee

04:59 03 Dec 14

GREAT SERVICE! We would HIGHLY RECOMMEND your firm to anyone! Thank you Jim, Brenda and staff. We are now headed in a positive direction again. You helped us understand our options and get our lives back on track. Susan & Trevor

Heather Marie

01:14 28 Nov 13

Mr. Yanch - I want to thank you for helping my husband and myself through this difficult process. We recently recieved our discharge and already things are improving for us. You were referred to us by a family friend and now we know why. You and your staff provided the compassion and understanding that we needed. Many thanks, H & R

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This website about bankruptcies, filing for bankruptcy and consumer proposals is for information only and is not meant to replace qualified legal advice by a licensed trustee in bankruptcy or trustee in insolvency. The application and interpretation of the bankruptcy laws of Canada, evolve over time and the writers shall not be held responsible for any information that may be incorrect or out of date. The owners of this website recommend that anyone having a financial issue or wishing to learn more about bankruptcy or a consumer proposal speak to one of our insolvency trustees.

Consumer Proposal Examples

Examples of Consumer Proposals

Many times a Consumer Proposals can solve your debt issues and avoid you filing for bankruptcy.

How a Consumer Proposal Worked for me…

How a Consumer Proposal Got Me Out of Debt

What is a Consumer Proposal?

More About Consumer Proposals

Have a Question? Send Us an Email

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Consumer Proposals

Have a Question? Send Us an Email