Filing a consumer proposal is done through an Insolvency Trustee licensed by the Office of the Superintendent of Bankruptcies. You start a consumer proposal by making an appointment to speak with trustee today at 905-721-7506.
You can file for a consumer proposal if;
- Your debts are more than five thousand (5,000) and less than two hundred and fifty thousand (250,000) dollars.
- You have steady income and can make monthly payments
- Your monthly debts are more than you can afford to pay
- You are unable to get a debt consolidation loan, and
- You do not want to go bankrupt.
A proposal is usually the best approach instead of filing for bankruptcy which affects you over a long period and stricter controls on property.