Creditors are a big part of the consumer proposal process.

Proposals deal with all of your unsecured creditors (creditors that do not hold any assets as collateral for your debts) including: 

Credit cards

Lines of credit

Personal loans

Payday loans

Government debts

Income taxes

When filing, it is important to list all of your creditors. One of the main requirements of a proposal is that all of your unsecured creditors are treated equally.

The rights of your secured creditors (creditors that do hold assets as collateral) are not affected. This means that if you wish to maintain possession of the encumbered asset, you will have to continue paying these creditors outside of the proposal, or be willing to surrender the asset that they hold as collateral.
Contact us to find out if filing a consumer proposal is right for you.

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