Consumer Proposals bankruptcy Debt relief Toronto

Credit Counselling

Credit counselling can provide you with the knowledge and skills to empower you to manage your finances and eliminate debt.

In situations where there is a budget surplus, it may be possible to structure an informal arrangement with creditors to accept a payment plan.

In such cases, creditors might agree to compromise their claims or reduce interest payable on the debt, but more often than not, creditors will demand full payment.

A consumer proposal may be a better solution and should always be considered as an alternative given that debts in a consumer proposal can be compromised (ie settled for a fraction of what is owed).

But whatever path is taken, learning about money and debt management is central to any debt-solution plan in order to provide essential knowledge to avoid future debt issues, and to create financial security and stability.