Are you suffering from unending creditor phone calls, wage garnishment, or threat of legal action? Is harassment from creditors causing you stress and sleepless nights wondering when it will end?
Worst of all, are you worried that bankruptcy is the only answer?
No matter your financial or debt situation, we can help stop unwanted contact from creditors and negotiate better payment terms with a customized consumer proposal.
What is a Consumer Proposal?
Consumer proposals are offers for modified payments we make to your creditors on your behalf. Offers can vary from making lower payments over a longer period of time, to paying only a percentage of what you owe. Once your consumer proposal is filed, all aggressive actions from your creditors cease, and upon its approval you can concentrate on paying back your debt under the terms of your proposal.
We file all the paperwork, make direct contact with your creditors, and even handle your payments for you. Our goal is to make the process as smooth and stress free as possible.
Filing a consumer proposal as part of your debt management plan has many benefits, including:
Monthly payments are fixed and are often reduced
You stop paying interest
Creditors will cease aggressive actions and unwanted contact
Accepted proposals are legally binding
Best of all, you’ll avoid bankruptcy and the severe credit consequences bankruptcy brings.
Consumer Proposal vs. Bankruptcy
Although simply declaring bankruptcy might seem to bring debt relief faster, there are many tangible advantages to developing and presenting a consumer proposal instead:
You retain all your tax refunds and credits you are owed
Your credit rating is affected for a much shorter period of time
Payments are fixed and not scaled to your income
There is no monthly reporting or monitoring
Major assets and registered investments are protected from seizure
With bankruptcy, your assets might not be protected, there is much more paperwork involved over the long term, and your credit rating recovery period may be much longer than with a consumer proposal.
Consumer Proposal in Toronto
Our team will tailor your consumer proposal to your specific situation. We’ll work with you to develop several different proposal scenarios before selecting the best plan to present to your creditors. Upon approval, we’ll make sure all the proper documentation is in place so you can concentrate solely on making repayments, and getting back on track to reaching your financial goals.
Since 2006, Charles Advisory Services has provided debt consolidation solutions, consumer proposals, and bankruptcy services in Toronto. Founder Robert Charles has helped hundreds of individuals, families, and businesses manage their debt situation with the personal service that only an independent licensed insolvency trustee can give. With Charles Advisory Services, trusted debt consolidation, consumer proposals, and bankruptcy solutions are just a phone call away.
If you’re ready to take control of your debt situation with a consumer proposal, contact us today for a free consultation!