Consumer Proposal

What is a consumer proposal?

Alternative to bankruptcy
Legal process
Settlement offer to repay only part of your debt to your creditors
Administered by a Licensed Insolvency Trustee (LIT)
Opportunity to rebuild a sound financial reputation

The process when submitting a consumer proposal

Development of a settlement offer, subject to the approval of your creditors.

Only one monthly payment to make, directly to the Licensed Insolvency Trustee.

Released from the debts included in the consumer proposal upon meeting all the conditions.

Advantages of the consumer proposal

Simplifies your debt management.
Subject to creditors approval, the amount of your payment is set according to your budget.
Reduces the total amount of debt you have to reimburse.
Flexible payback period, can be as long as 60 months.
Stops interest accumulation.
The fees of a LIT are established under the Bankruptcy and Insolvency Act and are included in the monthly payments of your proposal.
Ends collection action by your creditors.
Allows you to avoid bankruptcy.
Protects you against certain legal proceedings, including garnishment.

Ginsberg Gingras, your debt solution

You are losing control of your financial situation and you are seriously considering filing a consumer proposal? Our Licensed Insolvency Trustees (LIT) can advise you.

We can help you throughout your efforts to end your financial difficulties. We’ll ensure your interests will be respected and we’ll be sure to keep you well informed about each step.

Contact us for a free, confidential evaluation without any obligation on your part.

Regain control of your finances now