Insolvent debtors with a household income above the government mandated thresholds limits are more likely to choose a consumer proposal
as an alternative to bankruptcy in order to spread potential surplus income payments over a period of up to five years.
It was introduced into the Bankruptcy & Insolvency
Act as an alternative to bankruptcy for individuals who are struggling with debt payments but do not want to file bankruptcy.
This will help you resolve what the best course of action is for your unique circumstances, and you'll study how to apprise yourself unable to pay debts, as
well as alternatives to bankruptcy.
But it makes no sense at all to force a struggling student - loan debtor into an
IDR as an alternative to bankruptcy relief when it is evident the debtor will never be able to repay his or her student loans.»
As an alternative to bankruptcy filings, where credit ratings and vendors take a large business hit, Lipson Neilson can offer expert legal services, which can buy you and your business time to restructure, enact new strategies, or gain new investors.
Second, you meet with a licensed bankruptcy trustee to review your options, which may also include filing a consumer
proposal as an alternative to bankruptcy in Canada (in the U.S. you would need to consider a Chapter 13 Wage Earner Plan).
If you are considering a consumer proposal
as an alternative to bankruptcy, our team of Licensed Insolvency Trustees will explain the consumer proposal process and answer any questions you might have.
As an alternative to bankruptcy, consumer proposals help 50,000 Canadians a year keep their assets, gain protection from their creditors but most importantly get out of debt.
In fact, almost 7 in 10 people experiencing debt problems in North York file a consumer proposal
as an alternative to bankruptcy.
Explain that you're considering debt settlement for your debts
as an alternative to bankruptcy.
If you expect your income to increase and you are worried that you may pay a lot in surplus income, you could consider a consumer proposal
as an alternative to bankruptcy.
If it is determined that your bankruptcy would be expensive, due to high surplus income or assets you may lose, the trustee will then discuss with you a consumer proposal
as an alternative to bankruptcy.
If you want to be given
this as an alternative to bankruptcy proceedings, you will need to get yourself an n92 form to fill out.
If you're considering debt settlement
as an alternative to bankruptcy, it's important to look at the nature of your debts and make yourself aware of what can and can't be settled through the PCA debt
As an alternative to bankruptcy, or debt settlement, DMPs work to get you out of debt in the fastest time possible, while still taking into consideration your living expenses and needs.
If you're considering debt settlement
as an alternative to bankruptcy, it's important to look at the nature of your debts
If you're considering debt settlement
as an alternative to bankruptcy, it's important to look at the nature of your debts and make yourself aware of what can and can't be settled through the PCA debt settlement program.
If you are getting a raise, an inheritance, or a performance bonus, you may want to think of filing a consumer proposal
as an alternative to bankruptcy.
As we mentioned, the rate of people choosing consumer proposals
as an alternative to bankruptcy is increasing.
The Individual Voluntary Arrangement (IVA) was introduced by the government in 1986
as an alternative to bankruptcy.
Professionals often file a consumer proposal
as an alternative to bankruptcy.
If you have assets that may be subject to seizure in a bankruptcy because they are not exempt, or because their value exceeds the permitted exemption limits, you may want to consider a consumer proposal
as an alternative to bankruptcy.