You will experience immediate relief from your financial stress upon filing a consumer proposal. Your unsecured creditors must communicate with the Proposal Administrator. You no longer receive telephone calls, monthly statements or collection notices from your unsecured creditors.
You will gain control of your finances. You stop making numerous monthly payments to all your individual unsecured creditors and begin making one single monthly payment that you can afford to your Proposal Administrator.
Advantages of a Consumer Proposal over Bankruptcy
Disadvantages of a Consumer Proposal Compared to Bankruptcy