Consumer proposals and personal bankruptcy are the two most common financial restructuring plans available in Canada. When comparing the two, it’s important to select the option that gives you the greatest financial benefit to eliminate your debt.
Although both options provide you with immediate protection from your unsecured creditors, each offers varying benefits and the best option will depend on your current financial situation.
The following illustration provides an overview of the main differences between a consumer proposal and a personal bankruptcy.
Not sure which is best for you?
Book a free, confidential appointment to review your current financial situation and determine the best option to get you out of debt.
Thank you all for making a not so happy time a positive learning experience.Kelvin & Deb J.