2025-08-14
How to budget for summer vacation
Vacation costs can add up quickly without proper planning. This guide can help you budget so that you can make the most of your trip without overspending.
2011-02-08
Author: Bradley Milne
The length of time it takes to complete a consumer proposal depends on a number of factors, particularly the amount of unsecured debt you have as well as the amount and frequency in which you are able to make a payment. However, the terms of a consumer proposal cannot extend beyond five years.
Most consumer proposals involve a monthly payment over anywhere from 1 year (12 months) to 5 years (60 months), however, there is nothing in the legislation that says a proposal must be comprised of monthly payment terms. For example, a self-employed farmer may find it more suitable to propose payment terms that are semi-annual or annual based on their cash flow. Conversely, an individual getting paid every two weeks would likely find a monthly payment more suitable. In summary, consumer proposals can offer a great deal of flexibility in respect of payment terms. Keep in mind that a proposal must be accepted a majority of your creditors based on the amount they are owed. In addition, if you were to fall behind by more than three payments, your proposal would be annulled.
There is no penalty for completing the terms of your proposal early.
2025-08-14
Vacation costs can add up quickly without proper planning. This guide can help you budget so that you can make the most of your trip without overspending.
2025-08-05
Bankruptcy Consumer Proposal
Losing your job can be frustrating and, even more so, managing your financial wellbeing while you’re unemployed. However, you can successfully navigate the situation with the right budgeting tips.
2025-08-04
Since it’s impossible to predict or prevent most medical conditions or emergencies, the best way to handle them is by planning and preparing for them.