If you cannot manage to repay your complete debt, a consumer proposal provides a legal approach to settle for less than you owe. A Licensed Insolvency Trustee assists you to work out a lawfully binding settlement agreement along with your creditors. Even though this has some bad effects, there are particular conditions where it’s a good idea so you can get out of debt.
This guide can assist you to know how a consumer proposal works and how to consider the pros and cons. That way, you can make the best decision when you try to find the best way to become debt-free. If you want to determine if a consumer proposal fits your needs and how it compares to other choices, call (855) 352-3733.