Is A Consumer Proposal The Right Solution? 

Contact D. Thode & Associates for a FREE “know your alternatives” consultation.  We are a Licensed Insolvency Trustee – Proudly Serving Vancouver and the Province of British Columbia since 2003.

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. 

What is a 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).

Other Common Questions About Consumer Proposals.

What is the Process?

We’ll 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. Then we’ll 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.

What If My Proposal is Rejected?

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.

What Happens If I Miss a Payment?

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.

Watch This Quick Video On Consumer Proposals 

 

Alternatives To Consumer Proposals

Bankruptcy

In some cases, your financial situation may require ultimately declaring bankruptcy. Learn more if declaring bankruptcy is the best solution for you. 

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.

Vancouver B.C. Offices

1055 W Hastings St – Suite 300 Vancouver, BC V6E 2E9
Call Us: 604-336-9533

Directions To Vancouver Offices: Our Vancouver office is located within the Guinness Building on West Hastings Street between Burrard and Thurlow. We are just a short walk from the Burrard Skytrain Station. Meter parking is available on the street, or hourly parking is available in our underground parkade on P4.

Map to Vancouver Offices

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

Contact us for a FREE "Know Your Alternatives" consultation.
Ready to reduce your debt? Fill out the form below to be on your way to better financial health.

Our B.C. Offices

Should you require consumer proposal counselling outside of Vancouver & Area, D. Thode & Associates has several offices to serve you throughout British Columbia.

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