Financial difficulties can arise at any time for many reasons. More often than not, a Consumer Proposal can help you satisfy your creditors without having to go bankrupt.
In some cases, over 90% of debts can be eliminated with an open payment arrangement extending for up to 5 years without additional penalties or interest being added.
Kunjar Sharma & Associates Inc. has successfully filed over 6,000 Consumer Proposals. Our experience enables us to help you better understand the proposal process and how it will address your specific financial problems. We explain in simple terms: the time lines, flexibility of payment options (including early pre-payment) as well as the responsibilities imposed on a person who files a Consumer Proposal.
Consumer Proposals are intended to help reduce the number of bankruptcy filings by allowing the people who owe less than $250,000 (excluding mortgages on their principle residences), to negotiate with their creditors for a reduction in what they need to repay and/or for an extension of the time for payments of their debts. The procedure to be followed for Consumer Proposals is very streamlined.