Why file a consumer proposal in Vaughan?
Do you have debt problems and are unable to make repayments on time? Filing a consumer proposal in Vaughan, Ontario, can help eliminate up to 80% of your debt.
You consolidate your unsecured debts and pay lower monthly payments through a formal agreement with your creditors.
The benefits of a consumer proposal Vaughan:
- Write off up to 80% of debts
- Lower your monthly bills
- Stop collection action
- Stop wage garnishments
- Unfreeze your bank account
- No interest applied
- Keep all your assets
- Avoid filing for bankruptcy.
See if you qualify
To learn more about filing a consumer proposal in Vaughan, contact a local Licensed Insolvency Trustee today for a free consultation.
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How do Vaughan consumer proposals work?
A consumer proposal lets you reduce your debt by up to 80% by repaying your creditors less than you owe, with the remaining balance forgiven. You make a single monthly payment, and at the end of your proposal, you are debt free.
You can eliminate most unsecured debts, like credit cards, personal loans, student loans, overdrafts, payday loans, utility bills and tax debts.
Once your proposal is accepted, your creditors will no longer be able to garnish your wages or contact you. Your assets are protected, so you will not lose your home, car or investments. Unlike bankruptcy, you can keep your tax refund.
A consumer proposal is a government-approved debt relief solution that must be administered by a Licensed Insolvency Trustee (also called a bankruptcy trustee), who acts as your consumer proposal administrator and liaises with creditors on your behalf.
All trustees are licensed and regulated by the Office of the Superintendent of Bankruptcy Canada.
Contact an experienced Licensed Insolvency Trustee in Vaughan to get started. Your consultation is free.
Get debt relief
Free consultation with a Licensed Insolvency Trustee by video, phone or in person.
- Experienced trustees
- Local offices
- Personalized plan
- No fees
It only takes 30 seconds.
How much does a consumer proposal cost?
The cost of a consumer proposal depends on your financial situation. Your Licensed Insolvency Trustee will consider the amount you owe, the creditors involved, your income and whether you have any assets.
Try our consumer proposal calculator to find out how much you might pay.
How long does a consumer proposal last?
A consumer proposal can be spread over five years, but you can choose how long it takes. If you can afford to do so at any point, you can pay off the proposal early without any penalties or interest.
Get debt relief with a consumer proposal Vaughan
If you are seeking debt relief in Vaughan or the North York area, a Licensed Insolvency Trustee can help deal with debt based on your unique circumstances.
This might be through a consumer proposal, or another debt solution like debt consolidation, credit counselling or personal bankruptcy.
Book your free consultation today with an expert Licensed Insolvency Trustee in Vaughan.
Get debt relief
Free consultation with a Licensed Insolvency Trustee by video, phone or in person.
- Experienced trustees
- Local offices
- Personalized plan
- No fees
It only takes 30 seconds.
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