There are several reasons why a consumer proposal may be
a better debt reduction solution when you are looking to consolidate credit into a single, lower monthly payment.
Unless I get to tackle them one at a time with a car battery and some alligator clips... But what it does offer is: i) a (v meaningful)
solution that's pretty quick & easy to implement, ii) huge flexibility from a political and a financial management perspective, iii) interest savings, and even
debt principal
reductions, for most if not all countries, and iv)
best of all, a multi-year window to avoid default, implement deficit
reductions (faint hope) and / or ideally grow into an outstanding
debt burden.