For people who are struggling with their debt, a Consumer Proposal can be a great option to get their finances back on track.

Owing Canada Revenue Agency (CRA) money can be overwhelming — especially because the government has greater powers to collect outstanding debts compared to other creditors.

After consulting with your local financial advisor, you’ve determined that Bankruptcy is the next step for you. While the decision may not be easy, it’s an important step in your journey to debt freedom.

If your research into your personal finances shows that you have unmanageable debt, then working with a trusted advisor is going to be a huge part of your financial journey.

The warning signs of financial trouble are everywhere, if you know where to look. Knowing what they are and how to recognize them can be the difference between quickly recovering from one or two bad months and being trapped in a months or years-long battle with debt.

You’ve been through one of the biggest financial challenges of your life. Overwhelmed by debt you couldn’t manage on your own, you made the choice to meet with a Licensed Insolvency Trustee.

Everyone’s financial journey is unique. If yours looks like it may lead you down the path of working with a Licensed Insolvency Trustee to file for Bankruptcy or submit a Consumer Proposal, then a debt-free future awaits you. The sign that you’ve finished all of your payments, is an official discharge from Bankruptcy or a Certificate of Full Performance from a Consumer Proposal.

Financial advisors can help you prioritize your debt repayments based on due dates and interest rates.