Learn More About Consumer Proposals

Explore the world of consumer proposals, a popular debt relief option for Canadians struggling with debt problems. Learn how this legal process allows you to negotiate with creditors to repay a portion of your debts while avoiding bankruptcy. Discover the benefits of consumer proposals, including protection from creditor actions, debt consolidation, and the potential to keep your assets. Find out if you qualify, how to file a consumer proposal, and what to expect during the process. Get information on working with a Licensed Insolvency Trustee, the role of the Office of the Superintendent of Bankruptcy, and how consumer proposals differ from other debt management solutions. Empower yourself with knowledge to make informed decisions about your financial future.

Quick Guide Link: Do you prefer a concise overview? Read our Consumer Proposal Guide for key insights.

Are you considering a consumer proposal? Contact Hoyes Michalos today for a free, no-obligation consultation with our Licensed Insolvency Trustees. We’ll help you understand if a consumer proposal is the right solution for your unique financial situation.

10 Common Consumer Proposal Myths Debunked

Learn the truth about proposals. From upfront fees to credit ratings, government debts to assets, we clear up the most common misunderstandings about consumer proposals in Canada to help you make an informed decision about your debt relief options.

Can I Get a Car Loan With a Consumer Proposal?

Yes, you can get a car loan during and after a consumer proposal. Learn how to improve your approval chances, understand interest rates, and use car loan payments to rebuild your credit. Many Canadians successfully finance vehicles at both stages with proper preparation and realistic expectations.

Can You Include Your Car Loan Debt in a Consumer Proposal?

Learn how to get relief from overwhelming car loan debt through a consumer proposal. Understand your options when you owe more than your car is worth, how to handle voluntary surrender, and include any remaining car loan balance in your proposal. A Licensed Insolvency Trustee can help you deal with unaffordable car payments and get a fresh financial start.

How Does a Consumer Proposal Work

Consumer proposals in Canada are a debt relief solution for individuals drowning in debt, offering a structured plan for financial recovery. In this article, we'll explore how a consumer proposal works, explaining eligibility criteria, the filing process, legal protection, creditor considerations, and the pros and cons of this debt management strategy.

Consumer Proposal Laws in Canada

You may already know that a consumer proposal can help you eliminate debt. In this post we explain the top laws and rules that come with a proposal filing so you have a better understanding of the process.