Toronto Consumer Proposal: Helping Torontonians To Avoid Bankruptcy
If you find that you are having difficulty making regular payments to reduce your debts, or that, even with regular payments, the debt load is not going down, then you need to take some action to improve your situation.
In situations such as these it may make sense for you to do a Consumer Proposal. This is something that is becoming increasingly common and a solution that people are using rather than going bankrupt.
Call us at 844) 507 7526 or book an free appointment and we will get back to you within 2-4 hours maximum during business hours.
A consumer proposal makes sense if:
- Your debts, excluding those secured against your residence, do not exceed $250,000
- The value of your assets, excluding those that are secured is less than the amount of your debts
- There is a low possibility of you being able to repay your debts in full or be able to pay your debts according to the current terms
- You have sufficient income after meeting your monthly living expenses to offer your creditors a reduced amount in full settlement of the entire debt.
Your settlement period can extend as long as 60 months and you are confident that you will be able to fulfill this payment schedule.
If you feel that the situation above applies to you then take advantage of a free consultation with one of our Debt Solutions Managers to determine whether filing a consumer proposal in Toronto is the right solution for you.
During that free consultation we will review your specific circumstances, and recommend a solution that works for you. If you decide on a consumer proposal then we will prepare all the paperwork and file the documents with the federal government. From that point on you will get the relief that you are looking for:
protection from your creditors;
no more harassing phone calls;
an end to most legal action against you.
During the period when you make you monthly payments, we will provide you with counseling to help you Rebuild for a better financial future.
Getting to our A.Farber Toronto Consumer Proposal and Bankruptcy office:
Our Toronto Insolvency Trustee practice is situated at the intersection of Sheppard Avenue East and Leslie Street, accessible from Highway 401 at the Leslie Street off-ramp. Ample parking is available in the parking lots adjacent to our building.
Our Toronto office location is wheelchair accessible - ample free parking is available outside at our side parking lot, complete with a proper ramp system leading up to the main entrance area. And elevators inside the building can transport you to our office door.
Our office is also conveniently serviced by the TTC bus service and the Sheppard subway via the Leslie Street station. For additional information on how to conveniently reach us from any part of the city via public transit.
Our Sheppard Ave East office address:
Call us at (844) 507 7526 or book a free appointment and we will get back to you within 2-4 hours maximum during business hours.
From the Consumer Proposal Toronto media:
In his article in Globe and Mail: Bankruptcies down, but more Canadians negotiating way out of debt, Andy Fisher explains:
These days, most people who see the Toronto-based bankruptcy trustee are not interested in talking about bankruptcy. Most people want to talk to him instead about a consumer proposal – an option that is overtaking personal bankruptcy in Canadian insolvency cases.
The vast majority of people that I see are coming to talk about a consumer proposal and not about a bankruptcy,” said Mr. Fisher, a partner at A. Farber & Partners Inc. “When we meet with people we review all options for them, but in many cases a proposal is in their best interests, it works best for them. On a relative basis, a consumer proposal is much more appealing to a bankruptcy compared to the way it was four, five years ago
Canadians grown about forty percent in consumer proposal out of total insolvency cases. The increase is from fifteen percent in 2006.
Learn how to Avoid Bankruptcy Toronto in this article.