Does a consumer proposal affect your credit score?
Yes, a consumer proposal negatively impacts your credit score. It is recorded as an R7 rating on [...]
How long will a consumer proposal stay on my credit report in Canada?
A consumer proposal remains on your credit report for three years after completion or six years from [...]
How many years do I have to pay in a consumer proposal?
A consumer proposal can offer a one time lump sum payment and/or payments over a maximum 5 [...]
Does my spouse need to file a consumer proposal too?
Your spouse is not responsible to pay your debts just because you are married. They are only [...]
What is a consumer proposal?
A consumer proposal is a formal, legally binding process administered by a Licensed Insolvency Trustee (“LIT”). The [...]
Can I file a joint consumer proposal with my spouse?
Legislation authorizes a joint consumer proposal to be filed if the debts are substantially the same; the [...]
Does my employer have to be notified I filed a consumer proposal?
As long as you provide proof of wages to your trustee, and there is not a garnishment [...]
What happens if I miss a payment under my consumer proposal?
If you have offered a monthly payment to your creditors, missing one payment will have no effect. [...]
What happens if my circumstances change and I can’t afford my accepted consumer proposal?
Contact your trustee right away to see if an amendment can be filed to your proposal or [...]
Do I only have one chance at making an offer my creditors will accept under a consumer proposal?
No, if the creditors are voting against your proposal, a meeting of creditors will be called, and [...]
