by BNA | Oct 17, 2019 | Questions About Consumer Proposals
Short Answer No, a consumer proposal is not the same as a personal bankruptcy in Alberta, as each have different rules, methods and guidelines as set out by the federally-appointed Office of the Superintendent of Bankruptcy. A consumer proposal can be a faster, easier...
by BNA | Oct 17, 2019 | Questions About Consumer Proposals
Short Answer In Alberta, a consumer proposal actively works to pay back your creditors at zero interest. A debt consolidation loan or service merely shifts all of your debts into one loan payment, with interest. Remember, you can not borrow your way out of debt, you...
by BNA | Oct 17, 2019 | Questions About Consumer Proposals
Short Answer Generally during the process you can apply for a secured credit card, and will work your way back to an unsecured card after the proposal. Some creditors will give you a card shortly after you complete the proposal. Longer Answer The ability to borrow...
by BNA | Oct 17, 2019 | Q&A Series, Questions About Consumer Proposals
Short Answer A consumer proposal is an arrangement that’s negotiated with your creditors through a Licensed Insolvency Trustee. It’s an alternative to personal bankruptcy that is preferred by many debtors in Alberta. They are administered in Alberta the same way they...
by BNA | Oct 11, 2019 | Q&A Series, Questions About Consumer Proposals
Short Answer A consumer proposal is absolutely worth it! Longer Answer In Alberta, a consumer proposal is a very attractive option because you don’t have to pay any interest and a trustee can help you settle your debts for much less than you owe. On average, BNA Debt...
Recent Comments