Answers to your questions.
Customer proposals are quickly becoming the most popular credit card debt relief solutions, consequently they are frequently used instead of bankruptcy. These pages will need a glance at a few of the key concerns you could have about customer proposals. If you’re wondering how exactly to register a customer proposition, an authorized Insolvency Trustee (LIT) can explain every step of this procedure. An LIT could be the only government-licensed expert who can register a customer proposition for you, and you will be in a position to respond to any questions you may have.
Can I lose every thing if we file a customer proposition?
No, you shall not. Whenever you file a customer proposal, all of your assets are protected from your unsecured creditors. As these debts cannot be included in a consumer proposal if you own a home or a car, you will need to continue to make payments on your mortgage or car loan in order to keep them.
What’s the difference between a customer proposition and bankruptcy?
While both a consumer proposition and a bankruptcy can provide you a new economic begin, there are many key distinctions, the following: