Life After a Consumer Proposal

Generally speaking, the length of your proposal is under your control and can last anywhere from a few months to five years. Once you’ve made your final proposal payment, you will be relieved of the remainder of your unsecured debts that existed at the time you started the proposal (there are a few exceptions to this, which your Licensed Insolvency Trustee will discuss with you if applicable).

Consumer Proposals 101: An Introduction

When it comes to navigating through debt, it’s all about understanding your options. To learn more, download our newest e-book free:

Consumer Proposals 101 - An Introduction

Your credit report will show that you filed a Consumer Proposal for three years after the completion of the proposal. During and after your proposal, it’s important to show lenders good financial behaviours — like paying off your ongoing debts quickly, not bouncing cheques and getting and using a secured credit card — to help rebuild your credit rating. Taking control of your financial standing and building a stronger future is what Life-Changing Debt Solutions is all about.

Latest Blog Posts

2020-09-16

Nearly half (47%) of Ontarians still experiencing COVID-related disruption to their employment

David Gowling

MNP Consumer Debt Index COVID-19

A new poll by Ipsos carried out on behalf of MNP LTD has found that nearly half (47%) of Ontarians are still experiencing disruption to either their own work situation or that of someone else in their household in the form of lay-offs, reduced pay, or fewer working hours. Over the past few months, various financial relief measures from the government, banks, and businesses have helped cushion the financial blow of the pandemic for many Ontarian households. However, as these measures evolve or come to an end, the pandemic is still impacting household income for many.

Read More