Advantages Of Filing Consumer Proposal In Ottawa


If you are living in Ottawa and facing severe debt, then you can think of filing a consumer proposal Ottawa. This is usually referred as an alternative to bankruptcy as it provides an immediate relief from the problems related to the debt. To tell in simple words, a consumer proposal is a deal that is negotiated with your creditors. With consumer proposal, you pay only the partial debt as agreed by the creditor. To know more debt related problems and other issues, you can simply visit

After successfully filing a consumer proposal a debtor can enjoy many benefits such having most wage garnishments halted immediately, cease of interest of accumulation, free from harassment calls from the collection agency and the risk of losing your property or house. Above all, the debtor will have to pay only the portion of the overall debt. Due to these benefits, consumer proposal option is becoming very popular in Ottawa. Filing bankruptcy has some disadvantages, which are not associated with the consumer proposal.

In some debt relief option, the repayment money may increase if the debtor’s income increases. This is not the case with consumer proposal as the repayment money, which is agreed by the creditors initially, will not increase with an increase in your income in the future. Successfully filing bankruptcy can leave a huge negative score on your credit history. Such negative score can make your future financial life under a great deal of stress. With consumer proposal, your credit score receives less negative scores, which will not make a significant impact as bankruptcy.

Consumer proposal gives an opportunity to settle your debt in a dignified way. You can regain your esteem with the consumer proposal review. Many people may wonder what the reason is for the creditor’s to accept the partial payment. Creditors accept partial payment as they do not want the debtor to opt for a bankrupt. If a debtor has successfully filed bankruptcy, then the creditor will have very less opportunity to get back the money. With consumer proposal, the creditors have a good chance of recovering at least the partial money.

Remember that not all the candidates are eligible for consumer proposal. There are many eligible criteria for filing the consumer proposal. Usually, it is not easy for a commoner to thoroughly understand and successfully file a consumer proposal. There are many firms and consultancies that offer service of successfully filing the consumer proposal.

By using the service of any of such company, you can increase the chance of successfully filing the consumer proposal without much frustration. Facing severe debt in a society can be like living in a hell. The harassing calls from the collection agent and fear of property being frisked could make a debtor become stressed mentally.

Remember that debtors have many options to recover from this problem. There are many professionals and services, which are dedicated to offering various types solutions to debt problems for different kinds of clients. All that you have to do is browse the Internet and explore the options available for recovering from the debt. A consumer proposal is one of the best options that help you in the long run.

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