{"id":37713,"date":"2023-06-15T21:32:53","date_gmt":"2023-06-16T01:32:53","guid":{"rendered":"https:\/\/ginsberg-gingras.com\/?p=37713"},"modified":"2023-07-04T15:10:19","modified_gmt":"2023-07-04T19:10:19","slug":"understanding-the-consumer-proposal","status":"publish","type":"post","link":"https:\/\/ginsberg-gingras.com\/en\/understanding-the-consumer-proposal\/","title":{"rendered":"Understanding The Consumer Proposal"},"content":{"rendered":"

Cases frequently encountered in consumer proposals<\/strong><\/h2>\n

Customer is hesitant but gathers his courage and calls us.\u00a0 He thinks he’s going to lose everything.\u00a0 After a few minutes, he starts to feel confident and realizes that there are a few solutions, but one in particular capture his attention.\u00a0 He feels listened to with no judgment.\u00a0 He wants to know more about the consumer proposal which will enable him to regain control of his day-to-day expenses and financial obligations. He makes an appointment for a free consultation.\u00a0<\/span><\/p>\n

When is the best time to reach out for a consultation?<\/strong><\/h2>\n

It’s never too early or too late to consult.\u00a0 The meeting is free and without obligation.\u00a0 It\u2019s a good idea to call in order to obtain all the information required to help us move forward and see beyond your debts.\u00a0<\/span><\/p>\n

It’s easy to book an appointment by clicking here: <\/span>https:\/\/ginsberg-gingras.com\/en\/book-an-appointment\/<\/span><\/a><\/p>\n

You have the choice of an in-person or virtual meeting, at your convenience.<\/span><\/p>\n

Listen to our Podcast on the first meeting of a proposal<\/strong><\/h3>\n

https:\/\/ginsberg-gingras.com\/en\/podcasts\/dept-consolidation-or-consumer-proposal\/<\/span><\/a><\/p>\n

Some benefits of the Consumer Proposal<\/strong><\/h2>\n

Every situation is different, but the most important benefits are :<\/span><\/p>\n

– One interest-free payment per month<\/span><\/p>\n

– Payments are based on your ability to pay<\/span><\/p>\n

– No garnishment of any assets<\/span><\/p>\n

– No more collection calls<\/span><\/p>\n

– No co-signor\u00a0<\/span><\/p>\n

Some drawbacks<\/strong><\/h2>\n

– Credit score will be affected\u00a0<\/span><\/p>\n

– Difficulty to obtain new credit<\/span><\/p>\n

– Some changes in daily life expenses might be expected<\/span><\/p>\n

 <\/p>\n

Amount to be paid<\/b><\/h2>\n

At the consultation meeting, a budget based on income and day-to-day expenses will be prepared. \u00a0 Once this exercise is done, it will be possible to determine the amount that will be proposed to repay your debts.<\/span><\/p>\n

 <\/p>\n

The Length of a consumer proposal<\/b><\/h2>\n

The maximum term is 5 years.\u00a0 However, once approved, it is possible to pay more quickly.\u00a0 This will have a positive impact on the re-establishment of your credit rating.<\/span><\/p>\n

 <\/p>\n

Borrowing during my proposal<\/b><\/h2>\n

It may be difficult, but not impossible, to borrow during a consumer proposal.\u00a0 Every case is different.\u00a0 You will be encouraged to discuss it with us when the situation arises.<\/span><\/p>\n

 <\/p>\n

My financial situation has changed\u00a0<\/b><\/h2>\n

No one can predict the future, but one thing is certain: we are available to help you find a solution when your financial situation changes.<\/span><\/p>\n

 <\/p>\n

Some frequently asked questions<\/b><\/h2>\n

Will I lose my home? <\/span><\/h3>\n

NO, with a consumer proposal no assets are seized.<\/b><\/p>\n

Can I pay faster? <\/span><\/h3>\n

YES, it’s an open agreement, payable at any time.<\/b><\/p>\n

Will my employer be notified? <\/span><\/h3>\n

NO, we do not notify employers.<\/b><\/p>\n

Will the bank stop calling? <\/span><\/h3>\n

YES, once the documents have been processed, the calls will stop.<\/b><\/p>\n

 <\/p>\n

About the author<\/strong><\/h2>\n

By: Stephan V. Moyneur, CIRP\/LIT,\u00a0 Licenced Insolvency Trustee\u00a0<\/span><\/p>\n

https:\/\/ginsberg-gingras.com\/en\/find-a-trustee\/stephan-v-moyneur\/<\/span><\/a><\/p>\n

https:\/\/www.linkedin.com\/in\/stephanmoyneur\/<\/span><\/a><\/p>\n

 <\/p>\n

Learn more about the consumer proposal: <\/span><\/h2>\n

call (800)567-1905 or visit :<\/span>https:\/\/ginsberg-gingras.com\/en\/consumer-proposal\/<\/span><\/a><\/p>\n

https:\/\/ised-isde.canada.ca\/site\/office-superintendent-bankruptcy\/en\/you-owe-money\/you-owe-money-consumer-proposals<\/span><\/a><\/p>\n

Over the past 40 years, Ginsberg Gingras & Associates has helped more than 150,000 find their way back to financial stability.<\/span><\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

Cases frequently encountered in consumer proposals Customer is hesitant but gathers his courage and calls us.\u00a0 He thinks he’s going to lose everything.\u00a0 After a few minutes, he starts to feel confident and realizes that there are a few solutions, but one in particular capture his attention.\u00a0 He feels listened to with no judgment.\u00a0 He […]<\/p>\n","protected":false},"author":37,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[1114],"tags":[],"class_list":["post-37713","post","type-post","status-publish","format-standard","hentry","category-consumer-proposal"],"acf":[],"yoast_head":"\nUnderstanding The Consumer Proposal (Ultimate 2023 Guide)<\/title>\n<meta name=\"description\" content=\"The Consumer Proposal? Find out how the Consumer Proposal can help you! 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