Guest Commentary by Brian McIlmoyle B.Sc., Client Service Specialist, Mississauga, Ontario
In my experience, many people choose the consumer proposal option to deal with their debts because they don’t want to go bankrupt. Here are other top consumer proposal advantages, based on my experience in Mississauga, Ontario:
- You pay back your debts, as much as you can afford.
- You get a monthly payment you can live with.
- You can keep your house, your cars, your RRSPs.
- You are not penalized for earning “too much money” like you can be in bankruptcy.
- You can pay it off early and get debt free faster in some cases.
- You don’t have to go to court and explain in front of everyone how and why you go into debt.
- You can continue to own and operate an incorporated business.
- You can deal with TAX debt.
- You can rebuild your credit faster than a bankruptcy in some cases.
- You can deal with all the debt in the household with a Joint Proposal
- you never pay any interest
- You don’t pay any extra fees, all of the fees are included in the deal
- You don’t have to worry about wage garnishments.
- You never have to say “I’ve been bankrupt”
- And finally , you take back control, you make a deal with your creditors and you get back in charge of your money.
That’s a lot of advantages, so contact a consumer proposal administrator today to arrange a no charge initial consultation, and find out more.