Consumer Proposal & Bankruptcy

Consumer proposal enables you to settle your debts with the help of a licensed insolvency trustee who negotiates with the creditors to lower the debts and facilitate easy payment options. Once the consumer proposal is filed, the interest on the debt is frozen and all collection actions and wage garnishment are stopped.

Consumer Proposal enables debt settlement with the creditors without much impact on assets and lesser impact on the credit score.

Bankruptcy is a legal process that provides debt relief to those who are unable to repay their debts; it’s based on factors such as an individual’s home equity, assets, income and the kind of debts they owe. Bankruptcy is helpful if the money owed is more than the income or if wages are garnished by creditors. Filing for Bankruptcy is a major decision.

Whether you are considering Consumer Proposal or Bankruptcy, The Cash King can be of great help and can provide you guidance in the right direction.