2016-12-07
As Albertans continue to grapple with the stark realities of a significant crisis throughout the energy sector, thousands of households have found themselves unable to keep up with day-to-day expenses, let alone their financial obligations. As many across the province investigate which options may be available to them, Consumer Proposals are fast becoming the debt solution of choice. In fact, the number of Proposals filed between January and August in Alberta has jumped 97.5 per cent over the previous five-year average. Consumer Proposals allow consumers to make arrangements to pay off personal debt, often at a reduced rate, while also putting a halt to harassing phone calls and wage garnishments. While it’s disheartening to know the severity of Albertan households buckling under financial insecurity, the increase in Consumer Proposals does come with some good news. If you are struggling with unmanageable debt, you are not alone – and most importantly, you have options. MNP LTD Trustee Zaki Alam was interviewed by CBC News Calgary to discuss the increase in Consumer Proposals in Alberta. The original article was originally posted online atCBC News Calgary on November 1, 2016.
2025-11-20
Consumer Proposal
A Consumer Proposal can be a good alternative to Bankruptcy for people struggling with debt. Consumer Proposals require some repayment but won’t impact your credit rating as much and will also allow you to keep more assets. But if your income decreases or increases — how will that affect your Consumer Proposal moving forward?
2024-12-17
Consumer Proposal
Navigating personal Bankruptcy is challenging enough, but the complexity increases significantly when you’re also a shareholder or director of a corporation.
2023-07-28
Consumer Proposal
A Consumer Proposal is one of the many options available to consumers who are looking for a manageable way to eliminate debt while avoiding Bankruptcy. But you’re wondering if you can file another Proposal if you’ve gone this route once or twice before.
