Consumer Proposal

Are Collectors constantly calling you? Are you afraid to pick up your phone?

Trust me. You are not alone.

The feeling of debt relief is right around the corner with the help from Climb.

A solution that works for you. With high levels of unsecured debt, a consumer proposal is a more positive, proactive debt relief solution.

What is a Consumer Proposal?

When you file a consumer proposal, you’ll enter a formal arrangement that’s negotiated by a Licensed Insolvency Trustee (LIT) with creditors that you owe money to.

The consumer proposal is a debt relief program developed by the government of Canada and made available through the Bankruptcy & Insolvency Act as another way to handle debt instead of filing for bankruptcy.

If you have high levels of unsecured debt, a consumer proposal can be a proactive debt relief solution without declaring bankruptcy.

What are the qualifications to file a consumer proposal?

A Consumer Proposal may be a viable solution for you if you:

  • Have debts exceeding $18,000;
  • Are employed and can afford the monthly payments;
  • Don’t want to lose any of your assets, such as your home or car;
  • Debts are too high to qualify for a debt consolidation loan;
  • Can’t afford to repay all your debtors in full with interest.

Benefits of a Consumer Proposal

  • Debt is reduced between 60%-70%
  • Manageable payments spread over 60 months
  • No additional interest charges
  • Collection agencies stop calling you
  • Prevent legal action from creditors
  • Keep all your assets
  • Pay no additional costs beyond your monthly payments

How we will help you file a consumer proposal:

  1. We will review the consumer proposal process with you.
  2. We’ll work with you to determine an affordable repayment plan based on what you can afford.
  3. We’ll help you prepare the necessary forms for the LIT.
  4. We’ll connect you with an LIT who will file the proposal with the government.
  5. You make payments, as agreed upon.
  6. Upon completion you obtain your Certificate of Full Performance.
  7. You begin the process of rebuilding your credit history.

How can Climb Help?

Start your Journey to become debt free and rebuild your credit with Climb.