What is a Consumer Proposal?
Consumer proposals are a little-known and excellent alternative to bankruptcy. They allow a person to pay off their debts in full by only paying a portion of those debts to their creditors (on average between 20-30% depending on your financial situation).
Consumer proposals filed in 2010 increased by 22% over 2009. They are growing in popularity every month as average people with large debts realize they can dispose of those debts without claiming bankruptcy.
Proposals make up one-third of all legal insolvencies (bankruptcies and proposals combined), and this increases each year.
Consumer Proposal Benefits
