Consumer Proposal in Halifax: An Easy Debt Solution

We know that the majority of people who owe money want to pay their debts, but simply need more time to do so. Filing a consumer proposal in Halifax can provide you with that extra time you need to make payments while protecting the things that matter most to you, such as your assets (home, car or RRSPs). At BDO, we provide professional, confidential debt management assistance and advice about the process surrounding a consumer proposal in Halifax, bankruptcy filing and more. Talk to a BDO representative about your eligibility to file a consumer proposal in Halifax.

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Consumer Proposal in Halifax

Understanding everything you can about the consumer proposal process is the first step you should take when trying to break free of financial debt. When you’re properly informed about filing a consumer proposal in Halifax, you feel stronger about reclaiming your financial future.

Here are three of our frequently asked questions involving a consumer proposal in Halifax:

What is a consumer proposal?

Of course the most frequently asked question is about what exactly a consumer proposal is. A consumer proposal is a legal process which provides individuals seeking debt help with an opportunity to modify payments to creditors. Payments are modified by extending the payment period or reducing the amount to be paid, usually over a period of time.

What is the purpose of a consumer proposal?

The primary purpose of a consumer proposal is, while avoiding bankruptcy, arranging a settlement with creditors. Things such as harassing call, garnishees and other aggressive actions from creditors will be stopped once the consumer proposal is filed.

Who can make a consumer proposal?

If you currently have a financial debt between $5,000 and $250,000 then filing a consumer proposal in Halifax is the most logical management solution. You should consider filing a formal consumer proposal if you wish to retain your current assets, require relief from accumulating interest or simple need adjusted payment periods at a rate that works for you financially.

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