Consumer Proposal

CONSUMER PROPOSAL IN EDMONTON

A powerful debt solution

If you have bills piling up and creditors continue to call, it might be time to explore if a consumer proposal is the right debt relief option for you.  Fox-Miles & Associates Licensed Insolvency Trustees in Edmonton are here to help you choose the right path for you to gain a fresh financial start.  Our team will work with you to fully understand your financial situation and will therefore be able to recommend which debt solution is right for you.

Schedule Your Free Consultation

EDMONTON CONSUMER PROPOSAL

FIND OUT IF IS THE RIGHT SOLUTION FOR YOU!

Drowning in debt and having creditors continuously calling is an incredibly stressful situation.  If you want to pay off your debts, but you cannot meet the creditor’s timelines, it might be time to consider a consumer proposal as a debt relief solution.  If you cannot pay off your debts on time, and you owe less than $250,000, it may be right for you.  Our Licensed Insolvency Trustees will work with you to draft a consumer proposal that will restructure your debt and allow you to pay it off in a manageable and affordable way.

The expert Licensed Insolvency Trustees at Fox-Miles provides an initial, FREE CONSULTATION to new clients.  We will review your current financial status in detail with you, including your income and existing debt load.  After the initial consultation, we will work with you to decide if it’s best for you to pay a portion of what you owe, to pay smaller amounts over a more extended period, or a combination of both of those options.

Once you and your credit counsellor have agreed to the best course of action, your counsellor will draft a consumer proposal and will send it to your debt collectors for review.   The act of submitting the proposal to your creditors prevents them from calling you and garnishing your wages. Debt collectors will have 45 days to accept or reject your proposal. During that review period, creditors may request a meeting with you and your credit counsellor to discuss your proposal.

POTENTIAL DISADVANTAGES TO A CONSUMER PROPOSAL

Filing for any sort of debt relief in Canada is an important decision and needs to be made knowing all the positives and negatives presented by each debt solution.  If you qualify for a consumer proposal as an alternative to bankruptcy, it is essential to understand some of the disadvantages compared to bankruptcy.

  • Default Payments: Defaulting on payments may give secured creditors the ability to seize assets.
  • Interest Payments: Some secured debts and will continue to accrue interest during the repayment process.
  • Credit Rating: Filing a consumer proposal will harm your credit score, which will need to be rebuilt once completed.
  • Proposal Rejection: A consumer proposal is precisely that, a proposal.  Creditors have the right to refuse your repayment proposal.

schedule your free consultation today!

Calling Fox-Miles is the first step towards finding a solution to your current debt stress.  We will help cease the non-stop calls from collectors and help prevent your wage garnishment.   If you are looking to restart your financial future, contact Fox-Miles & Associates today.

We offer a free consultation, during which we’ll tell you if a consumer proposal is the best solution for you.

Summary
Consumer Proposal
Service Type
Consumer Proposal
Provider Name
Fox-Miles & Associates Licensed Insolvency Trustee,
310 – 8702 Meadowlark Road West,Edmonton,Alberta-T5R 5W5,
Telephone No.780-444-3939
Area
Edmonton AB, and surrounding area
Description
A Consumer Proposal is a highly effective debt tool that is a great choice for many Edmontonians with financial challenges. It is often a better choice than bankruptcy Call our team at Fox-Miles and Associates to find out if it is right for you!