2025-10-21
How we helped a client decide between a consumer proposal and bankruptcy
A client thought bankruptcy was their only way out. See how a consumer proposal helped them keep their home and repay debt with confidence.
2011-11-01
Hello, This is a good question and the answer really depends on your own, unique financial situation. Consideration must be given to many variables such as the amount of unsecured debt you have; the value of your assets and the extent to which they are exempt and/or secured; and your ability to make payments in the proposal (i.e. your monthly income and expenses or cash flow). Consumer Proposals offer a great deal of flexibility in terms of how they can be set up. For examplle, a self-employed farmer may choose to make annual lump sum payments rather than monthly payments. A seasonal worker may wish to make monthly payments of a higher amount from May to October when they are working full-time and then lower payments from November to April. There are many possibilities, a review of your cash flow situation will determine what type of payment schedule is best suited to your needs. Consumer Proposals typically involve a monthly payment for a period of 24 to 60 months, however, they cannot extend beyond 5 years. Upon the completion of the Consumer Proposal, you will receive a Certificate of Full Performance. The filing of the Consumer Proposal remains on your credit history for a period of approximately three years after completion. Brad Milne CIRP Brandon, Manitoba
2025-10-21
A client thought bankruptcy was their only way out. See how a consumer proposal helped them keep their home and repay debt with confidence.
2025-10-20
Alternatives to Bankruptcy Bankruptcy Consumer Proposal Lifestyle Debt MNP Consumer Debt Index
Just when seniors should be relaxing and enjoying the fruits of their labour, many find themselves struggling financially — an unsettling contrast to the ease they’d hoped to live their golden years.
2025-10-17
This is called buyer’s remorse. In some cases, Canadian law provides protections that can help you reverse these costly decisions and avoid sinking further into debt.