Why do I want to file a formal Consumer Proposal where I could just enter into a payment plan myself with my creditors?

If you have the financial means to pay your creditors under a plan that works for you and your creditors, then that is always the best solution. However, many debtors find that they simply cannot get the creditors to agree to a repayment plan and the harassing phone calls and letters continue. Under a Consumer Proposal, once excepted, it is binding on all creditors and thus you don’t have the problem of one hold out creditor refusing to take partial payments or harassing you at home or work with phone calls.

©2017 - C. E. Craig & Associates Inc.

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