Question RE Consumer Proposal

I am considering consumer proposal or credit counselling.
What is the exact difference?
Also, I own a home, do I have to sell it in order to do a consumer proposal program?
I don’t want to consider bankruptcy.

Posted from: Ontario

One Response to “Question RE Consumer Proposal”

A licensed trustee said...

Credit counseling is designed for people that can afford to repay their debt in full – they are looking for releif from the interest charges. Consumer proposals are for people that can only afford to repay a portion of their debt.

Whomever you speak to about your situation should describe to you how both procedures work and what your payments might be for them too. Then you can decide which makes the most sense for you and your family.