Most Recent 'Consumer Proposals' Posts

Debt in a Consumer Proposal In all simplicity, a Consumer Proposal is a legally binding agreement that provides you with immediate protection, applicable from the moment of filing from Debt Collectors. A Consumer Proposal agreement is administered by a Licenced Insolvency Trustee (LIT), it serves as an alternative to Personal Bankruptcy and is often cited […]

Automatic Stay of Proceedings in Bankruptcy In Nova Scotia, an “automatic stay of proceedings” comes into effect after you file for bankruptcy. The bankruptcy stay prohibits unsecured creditors from launching lawsuits or continuing current ones. It also stops these creditors from implementing wage garnishments against the person that has filed a bankruptcy or consumer proposal. […]

You are not alone if you cannot pay your bills. Almost every person in Nova Scotia reaches this point at least once during their lives. Like many other Canadians bills can get ahead of you. If you are not careful you could end up using a low interest credit card to pay off higher interest […]

Consumer Proposal Debt Limit A consumer proposal is a great option for individuals who can afford to pay back part of their debt. Factors such as interest charges play a big part in the failure to meet the agreed instalment prices. A consumer proposal is a legal document that offers creditors a partial repayment across […]