If your debts have become unmanageable and you realize you need to act to resolve them quickly, there are options available to you other than a Personal Bankruptcy. Filing a consumer proposal may be one of these options.
Speaking with a Licensed Insolvency Trustee can help you understand when to file a consumer proposal. The trustee will review your situation, and can explain how to file a consumer proposal, but the choice remains yours. If you decide that filing a consumer proposal in Ontario (or in whichever province you live) is the right option for you, the trustee will administer the process. Filing a consumer proposal can only be done through a Licensed Insolvency Trustee. Under the federal Bankruptcy and Insolvency Act, they are the only ones who can file a consumer proposal.
A Licensed Insolvency Trustee will help thoroughly review your financial situation, assist you in obtaining relief from your unsecured creditors, and help you develop the skills you need to begin rebuilding your financial life. The result is a better, more financially-secure future. And, of course, peace of mind.