Financial concerns can greatly impact our physical health. Most people have debt – mortgage, car loan, credit card. In some cases debt becomes overwhelming and requires professional help. There are several solutions, including consumer proposals. A consumer proposal is debt relief that settles unsecured debts (credit cards, personal loans, tax debts) for less than you owe. It’s a legal agreement between you and your creditors, prepared by a bankruptcy trustee. You and the trustee decide what you can afford and the trustee presents the proposal to your creditors. If they accept, you make one monthly payment to your trustee instead of your creditors until the settled debt is paid off. If you’re looking for a solution to your debt, a consumer proposal may be a good option. To find out if a consumer proposal is right for you, make an appointment with a certified bankruptcy trustee for a free consultation.

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