Consumer Proposal vs. Bankruptcy
Consumer Proposals and bankruptcies are both government legislated options which can provide you with relief from significant debt problems. In addition, both debt solutions can only be administered by a Licensed Insolvency Trustee and provide a legal stay of proceedings which require creditors to discontinue harassing collection calls, garnishment or other legal proceedings.
Determining which, if either, option is an appropriate solution in your own unique situation depends on a number of variables. Let’s explore the advantages and disadvantages of both a Consumer Proposal and a bankruptcy.
Consumer Proposal - Advantages and disadvantages
Bankruptcy - Advantages and disadvantages
Latest Blog Posts
2022-04-18
MNP Consumer Debt Index hits record low amid growing concern about debt and rising interest rates among Canadians
MNP Consumer Debt Index
The enduring financial impacts of COVID-19 coupled with the pressures of rising interest rates and a higher cost of living are weighing down Canadians’ confidence in their personal finances, according to the MNP Consumer Debt Index which is conducted quarterly by Ipsos on behalf of MNP LTD.
2022-04-18
More than half of Ontarians say they’re already feeling the effects of interest rate increases, up six points since December
MNP Consumer Debt Index
2022-02-22
More than half of Canadians concerned about impact of rising interest rates, up three points since September
MNP Consumer Debt Index
