Category Articles: Consumer Proposal in Ontario

If you have more debt than you can handle but don’t want to go bankrupt, a consumer proposal may be a great solution. In fact more than half of all personal insolvencies filed in Ontario are consumer proposals.

Whether you should file a consumer proposal will depend on your individual circumstances. In general, if you have assets that you would lose in a bankruptcy (such as a house or a car), or if you would be required to make significant surplus income payments in a bankruptcy, a consumer proposal may be the best option. If you have the income to support at least partial payments to your creditors, a proposal is worth considering.

Read more about consumer proposals in Ontario and your other alternatives to bankruptcy in our Expert Advice Blog articles below.