Barrie Consumer Proposal
A consumer proposal in Barrie is a legally binding agreement between an individual and their creditors to repay a portion of their debts. It is a way for individuals to resolve their debts when they are unable to pay them in full, and is an alternative to bankruptcy. To file for a consumer proposal in Barrie, you will need to work with a licensed insolvency trustee, such as Risman Zysman. The trustee will review your financial situation and help you determine if a consumer proposal is the right option for you. If it is, they will work with you to negotiate a proposal with your creditors and assist you throughout the process.
Call (416) 222-4600 to book your free consultation with Risman Zysman Inc. today.
Advantages of Filing for a Consumer Proposal in Barrie
The consumer proposal is a great way to eliminate debt in Barrie without declaring bankruptcy.
Consumer proposals in Barrie offer:
- A consumer proposal is a legally binding agreement between you and your creditors to repay a portion of your debts.
- It can stop interest from accruing on your debts, which can save you money in the long run.
- It can also stop collection efforts, including wage garnishment and harassing phone calls.
- A consumer proposal can allow you to pay off your debts over a longer period of time, making it more manageable for you to make the required payments.
Schedule a free consultation with one of our Licensed Insolvency Trustees by calling (416) 222-4600 today if you are interested in a consumer proposal.
Consumer Proposal Process in Barrie
Consumer proposals in Barrie are a very straightforward process to file if you decide they are the best debt relief option for you. Here is the process.
- The first step in the consumer proposal process is to seek the advice of a licensed insolvency trustee at Risman Zysman. Call at (416) 222-4600 for a free consultation.
- The trustee will review your financial situation and help you determine if a consumer proposal is the right option for you.
- If a consumer proposal is deemed to be the best course of action, the trustee will work with you to negotiate a proposal with your creditors.
- The proposal will outline the terms of your repayment, including the amount you will pay and the length of time you have to pay it.
- Once the proposal is accepted by your creditors, you will be required to make the agreed upon payments until the proposal is complete. Check out how much does a consumer proposal cost.
Want to File for a Consumer Proposal in Barrie? Talk to Risman Zysman Today
If you are struggling with debt and considering a consumer proposal, it is important to speak with a licensed insolvency trustee to determine if it is the right option for you. Risman Zysman is a trusted professional who can help you navigate the consumer proposal process and work with you to find a solution that meets your needs.
Book your free consultation with us today at (416) 222-4600, and one of our professional LITs will be happy to assist you.
Contact a Licensed Insolvency Trustee at Risman Zysman Inc. for filing Consumer Proposal in Barrie.
You are eligible for a consumer proposal if you are a Canadian resident with a stable income and a good credit score.
A consumer proposal can reduce up to 80% of your debt.
No, a consumer proposal is an alternative to bankruptcy. It is a legally binding agreement between you and your creditors to repay a portion of your debts, while bankruptcy involves the complete liquidation of your assets to pay off your debts.
In most cases, you will be able to keep your assets if you file for a consumer proposal. However, it is important to speak with a licensed insolvency trustee to fully understand the impact a consumer proposal will have on your assets.
A consumer proposal will have a negative impact on your credit score. However, it is often a better option than bankruptcy, which will have a more severe impact on your credit. Additionally, once you complete a consumer proposal, you can start rebuilding your credit and improving your credit score.