This to the point video provides you with a summary of consumer proposals for consumers in Erin Mills, Mississauga and Oakville and bordering areas regarding what a Consumer Proposal is and the kinds of personal debt can be bundled in/in the proposal. Is usually a consumer proposal the absolute best strategy for debt settlement in Mississauga?
More and more people young and old opt for a consumer proposal instead of personal bankruptcy in Erin Mills, Mississauga and Oakville.
The kind of unpaid debt which may be contained in a consumer proposal.
• Credit card debt
• Clinical debt
• Private financial loans
• Payday advance loans
• Credit lines
• And selected student loans
You could include bad debts to the Canada Revenue Agency for income tax and GST/HST.
What is a consumer proposal?
A consumer proposal is a legal course of action under the bankruptcy and insolvency act. It really is an arrangement that by law binds you in addition to creditors.
A consumer proposal is a commitment between you and your creditors. How much you repay is frequently a lesser amount than the amount you owe. It is based upon a dollar amount you can realistically be likely to commit to and interest penalty charges cease immediately.
What positive effects can you receive as part of a consumer proposal?
• A proposal immediately puts a stop to any legal actions or garnishees and collection calls.
• It gives you the opportunity to pay off the money you owe without applying for insolvency.
• Interest charges and penalties stop.
• Payment will be based upon what you can afford, not necessarily your outstanding debt.
Contrary to a debt management plan or a consolidation loan that is often repaid in its entirety.
A Consumer Proposal may certainly be a wise decision to give consideration to if you can not meet the requirements or were declined for a consolidation loan.
Quit worrying about credit debt. Worry causes stress that could affect your sleep patterns, your wellbeing and your work. Have a conversation with a licensed insolvency trustee.
Get a free meeting with a licensed insolvency trustee or licensed consumer proposal administrator. We also offer after work consultations. During your free consult, we will review your possible choices for debt relief.
Remember, only licensed insolvency trustees can offer all the financial debt relief options.
• Consumer proposals
• Personal bankruptcy
• Personal debt counselling
Richard Killen & Associates has offices all over the Greater Toronto Area.
Call our Erin Mills, Mississauga and Oakville Office at XXX to book a complimentary consultation.
It will be the most stress-relieving call you'll ever make!
Richard Killen & Associates Ltd Mississauga
2155 Leanne Blvd #203,
Mississauga, ON L5K 2K8, Canada
Tel: +1 905-822-1151
For more information go to the Richard Killen & Associates website at
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