Consumer Proposals and bankruptcies are both government legislated options which can provide you with relief from significant debt problems. In addition, both debt solutions can only be administered by a Licensed Insolvency Trustee and provide a legal stay of proceedings which require creditors to discontinue harassing collection calls, garnishment or other legal proceedings.
Determining which, if either, option is an appropriate solution in your own unique situation depends on a number of variables. Let’s explore the advantages and disadvantages of both a Consumer Proposal and a bankruptcy.
Consumer Proposal - Advantages and disadvantages
Bankruptcy - Advantages and disadvantages
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2024-04-29
April MNP Consumer Debt Index (3 Minute Debt Break)
MNP Consumer Debt Index
The latest MNP Consumer Debt Index has rebounded significantly to 91 points — an eight-point jump since last quarter after a full year of low scores. Conducted quarterly by Ipsos on behalf of MNP Limited, the Consumer Debt Index tracks Canadians’ attitudes about their debt and ability to meet their monthly payment obligations.