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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.
FAQ
How can I file for a Consumer Proposal in Barrie?
Contact a Licensed Insolvency Trustee at Risman Zysman Inc. for filing Consumer Proposal in Barrie.
Am I eligible for a 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.
How much debt can I reduce with a consumer proposal?
A consumer proposal can reduce up to 80% of your debt.
Is a consumer proposal the same as bankruptcy?
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.
Can I keep my assets if I file for a consumer proposal?
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.
Will a consumer proposal affect my credit score?
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.