The Benefits of a Consumer Proposal

 Consumer debt proposal Alberta is regarded as the best option for bankruptcy. There's a reason for this. They are Alberta's only government-approved debt settlement program. As more people become informed of consumer proposals, the number of people adopting them as their preferred debt solution has increased dramatically.

We have created a list of the benefits and drawbacks of consumer proposals in Alberta:

For those that qualify, a Consumer debt proposal Alberta has several significant advantages over bankruptcy:

You maintain your assets: One of the most important advantages of a proposal is that your assets are safeguarded, and you can keep everything, including tax refunds, investments, and home equity.

Lower monthly payments: With a Consumer Proposal, you return only a portion of your debt based on the terms and agreements you reach with your trustee. Debts are frequently reduced by up to 70% of the original amount owed.

There is no surplus income: Unlike bankruptcy, where the more you gain income, the more you pay, consumer proposals have a prominent payment amount that never changes.

Consumer Proposal: If your creditors approve your proposal, a Consumer Proposal will provide you with creditor protection, which will prevent collection calls and garnishments.

Important points:

  • It is a debt settlement that has been agreed.
  • You only repay a percentage of your overall loan.
  • One affordable monthly payment is made for a maximum of five years.
  • Interest has been frozen.
  • Filing a proposal binds you and your creditors legally.

Contact Consumer Proposal Alberta for a no-obligation consultation to find the best debt solution for you and enjoy peace of mind.

 

Location: Alberta, Canada

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