Brampton Consumer Proposals By A Licensed Insolvency Trustee

Those living in Brampton and Bramalea often prefer to initiate a consumer proposal from a trusted Licensed Insolvency Trustee in bankruptcy in order to reduce and get a handle on their personal debt. The Bankruptcy & Insolvency Act in Canada states two different approaches, one in particular is personal bankruptcy and the second solution is a proposal. Consumer Proposal versus Bankruptcy?A proposal is a settlement negotiated by a Licensed Insolvency Trustee or a licensed proposal administrator and then accepted by the court. A proposal is a legally binding arrangement which grants immediate safeguards from creditors and even debt collection firms.