Consumer Proposals in Penticton and surrounding areas

Contact us for a FREE "Know Your Alternatives" consultation.

Credit Counselling

Is a Consumer Proposal the Right Solution?

A Consumer Proposal is a possible alternative to bankruptcy.

If you are eligible for the process, we can work as an administrator between you and your creditors to restructure your debt payments to make your monthly debt payments more manageable. 

Consumer Proposal

A consumer proposal is a negotiated settlement between debtors and their creditors, mediated by a licensed insolvency trustee, acting as an administrator under the consumer proposal. It is legally binding negotiated settlement, so once the terms are fulfilled, the debtor is legally released from all debts. Consumer proposals are generally only available to people who owe less than $250,000 (not including debts like a mortgage).

The Process

We work with you to determine what kind of monthly payment you can afford. We will need a complete list of your assets and liabilities to figure out a fair solution for you and your creditors. We then present a proposal to your creditors that will consolidate all your debts into one easy monthly payment. You can usually discharge all of your debt over a few years of payments.

Debt Consolidation

When credit card debt and other high interest loans get out of control, it may be time to consolidate your debts. A Consolidation Loan is offered by your bank or other financial institution. All of your debts will be rolled into one lower monthly payment with a lower interest rate.

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Contact us for a FREE "Know Your Alternatives" consultation.

Watch This Quick Video on Consumer Proposals

FAQ's

Popular Questions

Creditors have 45 days to accept or reject your proposal. If it is rejected, we can make changes to the proposal and resubmit it. We can also consider other options to pay your debts, or (after we have exhausted all other options) you can declare bankruptcy.

If you cannot make the monthly payments required by the proposal, it can be annulled. If the proposal is annulled, you and your creditors will be in the same situation that you were before the customer proposal was presented.

Penticton B.C. Offices 

100 – 498 Ellis Street, Penticton, BC V2A 4M2
Call Us: 778-476-5566

Directions to Penticton Offices: The Penticton Office is located on the Ground Floor of the Omland Heal building, at the corner of Ellis and Padmore Street East.

We understand the difficulties during this time.  Contact us at D. Thode & Associates to determine the right financial alternative for you.

Our Staff

Our Burnaby Team

Doug Thode

Doug Thode

President

Shelley Koehli

Shelley Koehli

Licensed Insolvency Trustee

Learn Your Alternatives

Bankruptcy

Applying for personal bankruptcy releases you from your debts and gives you a fresh financial start. We’ll help you prepare documentation for bankruptcy and walk you through the proess.

Consumer Proposals

Let us negotiate a payment plan for you though the filing of a consumer proposal. You don’t have to file for bankruptcy. Pay your creditors on a modified payment schedule with no further interest.

Debt Help

Get started today. Download and complete our convenient online application form and bring it with you to your next appointment and save time.

Our B.C Offices

Should you require bankruptcy solutions and counselling outside of Burnaby & Area, D. Thode & Associates has several offices to serve you throughout British Columbia.

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