REDUCE YOUR DEBTUP TO 70%
✅ Keep your Car, Home, and RRSPs
✅ Stop harassing creditor calls immediately
✅ The quickest way to get rid of all your debt
(actual reduction depends on your circumstances)
Toronto Consumer Proposal Can Help!
There are many options available to people who have debt loads which they are finding difficult to reduce. They normally find themselves in positions where they are paying monthly minimums on their credit cards or making partial payments on their debts. With interest charges on many debts being over 20% they find that the principal owing does not go down. At this point it’s time to take stock and look at the options available. There are really four options open to you to manage your debts:
Every option has its advantages and disadvantages, but the option being chosen by many Canadians today is to filing a consumer proposal in Ontario as it offers a number of significant advantages.
Toronto Consumer Proposal Helped Torontonians To Avoid Bankruptcy For More Than 34Years
This is a formal procedure, regulated by the Federal government, under which you make an offer to all of your creditors to pay them a portion of what you owe them, in full settlement of your debts. If they accept your offer then your debts are effectively reduced to the amount you have agreed to pay them.
Why Would Your Creditors Accept Your Proposal
When you do a consumer proposal, the amount you offer to pay will be determined by your specific circumstances. Specifically:
From this information your creditors will generally conclude that what you are offering to pay is fair and is likely more than they would get if you were to declare bankruptcy. They will also factor in the savings to them of your proposal versus having to pursue their claims through collections or legal actions.
What are the Benefits to You of a Consumer Proposal
How to file a Consumer Proposal
As a consumer proposal is an agreement regulated by the government, it must be administered by certified proposal administrator. You will need to meet with an administrator who will review your specific circumstances, and work with you to determine what a fair offer to your creditors would be. This offer would then be submitted to your creditors who have 45 days within which to accept your offer. If accepted by a majority, all of the benefits described above come into effect upon signing. If they do not accept your offer, which is not common if it is fair, then you and your administrator can revise it and submit a new offer. During this negotiation stage, you are still protected from your creditors that is, they cannot take any steps against you to collect upon the debt.
Once the process in underway it is important that you continue to make your monthly payments so that at the end of the period, usually 60 months, you can be given a Certificate of Full Performance, the effect of which is to legally forgive these debts. From this point onward you can start to rebuild your credit and plan for a better financial future.
Canadians Debt Free With Afarber
Offices Across Canada
"I received my paperwork for being discharged, and I wanted to say thank you!! I have suffered from major anxiety for the last 3 years or so and knowing that you were there to guide, and help me through this was one thing that helped me feel a bit less stressed and happier. So thanks again!! Sincerely"E.R.
"I just want to let you know that, I am very happy with the services and support that your Team has provide to my wife and I regarding our Consumer Proposal. Since the moment when we arrived to the office for the first time, we felt very welcome and of course we could see we were talking with professional. Sincerely,"E.Z.
"Dealing with Adam at A Faber and Partners was an exceptionally gratifying experience. Adam dealt with us with the utmost respect and courtesy and always made us feel comfortable during our interaction. His guidance and supportive attitude during the entire ordeal was invaluable. Thank you Adam, your support and guidance was truly invaluable"J.B.