info@dfcs.today
10 Milner, Business court, Suite 334 Toronto, ON M1B 3C6
416-834-7227
Want to get your debts under control? Are you looking for an alternate solution to bankruptcy? You should consider the consumer proposal! A consumer proposal is a debt settlement where a licensed insolvency trustee will negotiate with the creditors to lower your debts. Once it is filed, a consumer proposal will freeze the interest on the debt you owe and will stop the collection calls and wage garnishment. What makes a consumer proposal different from bankruptcy is that it is a formal agreement with your creditors, and it allows you to keep more of your assets while also having less effect on your credit score.
To file a consumer proposal,
• Your debt should be less than $250,000
• You should be able to repay your debts but with an extended time
• A consumer proposal is much simpler than bankruptcy; it allows you to control all your assets including your home, and other properties;
• A consumer proposal require lower regular payment agreed upon by the creditors whereas bankruptcy payments are based on your income; the higher your income, the more will be your payment
• Filing a consumer proposal is less costly than bankruptcy; you’ll only have to pay the licensed insolvency trustee who processes the proposal
• A consumer proposal has less effect on your credit score unlike bankruptcy where you will get an R9 credit rating
WHY US?
Contact us for a free initial consultation now!
By filing a consumer proposal, you only need to repay a portion of your debt and that too, with a repayment period of 5 years. Here’re the other benefits associated with consumer proposal;
• You do not have to pay interest on your debt
• You can have control to keep all your assets including your home, vehicle and others;
• You only have to repay a portion of the debt you owe
• You will only have to make a fixed payment that won’t increase based on your income
• You will not get any collection calls, wage garnishments and legal threats