What You Keep In a Consumer Proposal
Unlike bankruptcy, Consumer Proposals allow you to choose which assets you keep, such as tax refunds and GST credits, RESPs (Registered 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.
Consumer Proposals 101: An Introduction
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.
Learn more about what you get to keep after filing a consumer proposal in all provinces across Canada.
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2021-07-19
Nearly half of Canadians doubtful they can cover living expenses this year without going into further debt, highest level in three years
MNP Consumer Debt Index
The quarterly poll conducted by Ipsos on behalf of MNP LTD, finds almost half of households (45%, +6) are not confident they’ll be able to cover all living and family expenses in the next 12 months without taking on more debt.
2021-07-19
Nearly half of Ontarians doubtful they can cover living expenses this year without going
MNP Consumer Debt Index
2021-04-08
More than half (54%) of Ontarians within $200 of financial insolvency; up 13 points since December, reaching a five-year high
MNP Consumer Debt Index
