Consumer Proposal In Montreal, An Alternative To Bankruptcy
The Consumer Proposal
A consumer proposal is an alternative to bankruptcy. This is actually a new contract between you and the creditors to allow you to pay down your debts through a monthly installment (spread over a maximum period of 5 years) established within your ability to pay. This alternative is for individuals whose total debts do not exceed $250,000 (excluding mortgage debt). Groupe Serpone can help you with this procedure.
The Benefits of the Consumer Proposal
- Bankruptcy is avoided
- Creditors cease harassment, legal procedures and attempts to seize property, furniture and wages
- You make only one payment per month, within your budget
- You keep all your assets (house, car, etc.)
- You are protected from service interruptions by utilities (telephone, electricity, gas, etc.)
- Interest ceases upon the filing of the proposal
- Trustee fees are included in your monthly payment.
For more information, call us!