How a Consumer Proposal Affects Your Credit Report
A consumer proposal affects your credit, but a reporting timeline is only one part of the decision. Understand the record, check the dates and plan your next steps without relying on a promised credit score.
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Which Debts Can a Consumer Proposal Include?
Credit cards are only one part of the picture. Bring a complete debt list to an LIT, including debts you suspect cannot be reduced, so the advice starts with the whole situation.
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Can You Keep Your House or Car in a Consumer Proposal?
Keeping an asset and being able to afford it are separate questions. A consumer proposal can help with eligible unsecured debts, while your mortgage or vehicle obligations still need attention.
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What Happens if You Miss Consumer Proposal Payments?
Contact the Licensed Insolvency Trustee administering your proposal as soon as a payment looks at risk. The next step depends on your payment schedule, accumulated arrears and the status of the proposal.
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A Monthly Budget for Managing Credit Card Payments
A useful budget starts with what actually happens to your money. This guide helps you find a realistic payment amount without treating every financial problem as a spending problem.
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Student Debt Help in Canada: Where to Start
Student loans, a bank line of credit and credit cards used for school can follow different rules. A clear loan inventory helps you find the right kind of help before choosing a repayment or insolvency option.
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Debt Help for Seniors in Canada: Practical Next Steps
Debt can become harder to manage when income changes in retirement. Start with the payments, benefits and essential costs you actually have, then compare options without pressure to borrow against your home or cash out savings.
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Start with the decision in front of you
If you are still weighing your options, begin with our consumer proposal guide and the comparisons with bankruptcy, credit counselling and debt consolidation.
Already working through a proposal? Focus on the duties and dates in your own agreement. Our articles can help you prepare questions, but your LIT is the contact for interpreting your proposal and addressing payment difficulties.
