A clause allows you to pay-off and complete your consumer proposal at any time.
Every consumer proposal that is filed by my office includes a clause that states as soon as the total due is paid, the consumer proposal is deemed fully-performed. This clause allows you to pay-off and complete your consumer proposal at any time.
It is important to note that there is no penalty for early payment. However, there is also no discount or reduction in the total amount you will pay if you decide to pay-off your consumer proposal early.
Although you don’t get a discount for paying it off early, there are actually a lot of advantages to getting your consumer proposal completed. The biggest advantage to doing this is that your proposal information will be purged from your credit report sooner which will help rebuild your credit score quicker.
If you need a fresh start, please do not hesitate to contact us to book a free initial consultation.
