What You Keep after a Consumer Proposal

Unlike bankruptcy, Consumer Proposals allow you to choose which assets you keep, such as tax refunds and GST credits, RESPs (Reg​istered Education Savings Plans) and RRSPs (including recent contributions you may have made). Life-Changing Debt Solutions isn't about what you have to give up; it's about ensuring your future financial security.

If keeping your home is a priority, a Consumer Proposal may be the best choice for you. Although you will be expected over time to pay into your proposal an amount equivalent to the net equity in your home (what you would get ‘in hand’ if you were to sell it, adjusted for any provincial exemptions ). As long as you keep your mortgage payments up-to-date, your house remains yours to live in.​

To learn more about what you get to keep after filing a consumer proposal in all provinces across Canada, please click here.


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