Looking to consolidate and reduce your debt into one simple, affordable monthly payment? You have come to the right place. The licensed Trustees in our Ajax offices will help you achieve that goal through the filing of a Consumer Proposal.
How Does a Consumer Proposal Help You Consolidate Debt?
While all of us have heard of debt consolidation loans, very few people know what a Consumer Proposal is. While a traditional debt consolidation loan typically requires you to borrow funds from a lender (often at high interest) to consolidate your various unsecured credit cards, loan, lines of credit and other debts into a single monthly payment, a Consumer Proposal has all of the benefits of such a consolidation without the additional costs:
- Just like a traditional debt consolidation loan, you would make one monthly payment to the licensed trustee (our team in Ajax will develop a repayment plan that fits your budget so you’re not struggling each month).
- Unlike a debt consolidation, there is no additional interest accrued when you file a Consumer Proposal. In fact, all interest stops dead the moment the Proposal is filed
- A Consumer Proposal usually requires the repayment of only a portion of the debt you owe (normally 30% to 50%), unlike a debt consolidation loan where you would have to pay back 100% plus interest on the amount borrowed.
- You do not need to have a co-signer to file a Consumer Proposal since you’re not borrowing any money.
- Unlike a short-term consolidation loan, a Consumer Proposal gives you up to five years to repay. This allows each monthly payment to be smaller and more manageable
- Once approved by your creditors and the court (which usually takes approximately 60 days), a Consumer Proposal can be paid off at any time without penalty. In fact, we encourage you to pay the proposal off before the five-year period is up, as doing so helps you improve your credit rating sooner.
Learn More About Debt Consolidation
Looking to learn more about debt consolidation? Why not take a look through our valuable articles below to learn more:
How Debt Consolidation Loans Work
Advantages of a Debt Consolidation Loan
How to Qualify For Debt Consolidation
Disadvantages of a Debt Consolidation Loan
We Are Here To Help You Get Out Of Debt
The Licensed Insolvency Trustees from A. Farber & Partners' helped people to get rid of their debt problems for more than a decade. If you live in or near Ajax (or someone you know is experiencing financial difficulties), feel free to schedule a free and confidential debt consultation. Please pick up the phone (toll-free at (844) 507-7526), or request an appointment online. There's no obligation. Best of all, our debt experts in Ajax will help explain all of the options available to help relieve your financial problems.
Our Personalized Debt Solutions Work
The Debt Solutions Managers in our Ajax practice are Kirti Singh, Debt Administrator, and Dennis Kish, Licensed Insolvency Trustees. With years of experience assisting clients, Kirti, and Dennis look forward to sit down with you, review your personal financial situation in confidence and provide you with a range of solutions (such as offering your creditors a settlement offer in the form of a Consumer Proposal, versus filing for bankruptcy). Our Debt Solutions managers and Insolvency Trustees are known for their patient and understanding manner: they will treat you with respect and dignity
Meet Our Trusted Debt Relief Professionals
Kirti Singh, Insolvency Administrator and Counselor
Kirti has years of experience assisting people to get out of debt. She looks forward to meeting with anyone who requires help dealing with harassing collection calls, creditor demands, and rising debt loads that become impossible to tackle. Kirti is both a Certified Insolvency Administrator and a Qualified Insolvency Counselor. Kirti can provide you with a range of solutions to get out of debt (such as a settlement offer to your creditors in the form of a consumer proposal, instead of filing for bankruptcy). Her goal? To help you resolve your financial problems as quickly and painlessly as possible. Kirti looks forward to sit down with you and confidentially review your financial situation.
"Here in Ajax, our R-Plan philosophy of Review, Relief, and Rebuild is the cornerstone of what we do every single day. My goal is to understand a client’s concerns, explain their options fully and clearly, and then help them determine the best solution for their situation."
Dennis Kish, Licensed Insolvency Trustee
Dennis Kish is a Licensed Insolvency Trustee with the Insolvency & Restructuring practice of Farber Financial Group. Prior to becoming a Licensed Insolvency Trustee, Dennis practiced law in the areas of insolvency and creditors’ rights, having acted as legal counsel to Insolvency trustees, people in debt, and banks in a wide variety of insolvency proceedings. Dennis works closely with people and business owners dealing with debt. He is able to outline all your options for debt relief. Whether you need a Consumer Proposal or bankruptcy protection, Dennis helps people by providing you with strategies to help rebuild your financial future.
"I go out of my way to ensure you will fully understand your options, and I encourage you to bring your questions with you to our meeting," says Dennis. "I do my best to put you at ease, so we can find the right solution to your financial pressures."
Please call or fill out the form today, so we can arrange a free, confidential meeting for you in the Ajax area. At that meeting we will review your financial situation in detail, discuss the various options available to you through our R-Plan, and discuss bankruptcy and bankruptcy alternatives (such as consumer proposals), allowing you to make a decision based on both knowledge and sound financial advice. If you've been turned down for a consolidation loan, and credit counseling is just not the right fit for you, then speak with Kirti or Dennis as soon as possible. We can get you back on track financially and reduce your stress and anxiety. We help erase debts and give you the tools to rebuild financially.
Getting To Our Ajax Insolvency Trustee Office
Insolvency Trustee and Consumer Proposals - Ajax
274 MacKenzie Avenue Ajax,
Ontario L1S 1P1 Phone: (844) 507-7526
Please call (844) 507-7526 today to arrange for a free initial consultation with our debt relief experts in Ajax.