""

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

Chart listing the advantages and disadvantages of a consumer proposal

Bankruptcy - Advantages and disadvantages

Chart listing the advantages and disadvantages of bankrupcty

Latest Blog Posts

2023-06-05

Making the Most of Your MNP Debt Scale Check Up (MNP 3 Minute Debt Break)

Debt Solutions

How much debt is too much? Of all the questions Licensed Insolvency Trustees often hear, that is by far one of the most common. It’s also one of the most difficult to answer. 

When it comes to determining the threshold of excessive debt, it can be a challenging question to answer. 

Read More