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.
Personal Bankruptcy Alternatives
2012-03-20
Watch the video or continue reading below. Bankruptcy alternatives include:A loan consolidation – this is with a financial institution usually and you try to get a loan to pay off all of your debt (with interest) and then you make 1 payment to that institution;An informal proposal – try and negotiate yourself – 1 on 1 with your creditors – to have them accept a lower payment or amount. There is no formal protection from seizures.A formal Consumer proposal – a new deal that you try and make with your creditors An offer that you make to your creditors (with the help of a licensed trustee) that allows you to :Make 1 monthly paymentEliminate the interestCan keep your paid and unpaid assets (provided that you have been up-to-date and continue to be up-to-date with payments) For more information on alternatives to bankruptcy, pleasecontact me directly or consult ourDebt Help FAQ.
Latest Blog Posts
2025-10-20
Seniors and Debt
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
How buyer’s remorse laws can help you stay out of debt
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.
