FILL OUT THE FORM BELOW AND RECEIVE A NO-OBLIGATION CONSULTATION

"*" indicates required fields

Company

This field is for validation purposes and should be left unchanged.

Name*

Phone Number*

Email*

This field is hidden when viewing the form

What's the best time to contact you?*

Location*

What city do you live in?*

Total Unsecured Debt*

*Unsecured debt includes credit cards, lines of credit, bank overdrafts, payday loans, and unsecured personal loans (excluding student loans). It does not include mortgages and car loans.

This field is hidden when viewing the form

Source

How can we help you?

If you have unsecured debt of under $10,000 and live in the Province of Ontario filing bankruptcy may not be the best option for you. We suggest you contact the Office of the Superintendent of Bankruptcy at 416-973-6441 to discuss your options, or you can visit their website here.

Agreement*

I understand that Bankruptcy-Canada.ca does not provide debt relief services directly and agree to securely share this information with a local Licensed Insolvency Trustee (LIT) for a free, confidential consultation.

Select Trustee By Province

Consumer Proposal – Interest Rate Only

Is it possible to make a consumer proposal, such that only the application of a reduced interest rate on all unsecured debt is requested?

This not only ensures that creditors receive their principal amount during the consumer proposal, but in a reasonable time and rate of return.

Share this post:

X (Twitter) Facebook Pinterest LinkedIn Email

One Response to “Consumer Proposal – Interest Rate Only”

A licensed trustee said...

Once a consumer proposal is filed, all interest stops. In addition, the maximum amount that can be offered in a consumer proposal is 100 percent of the amount owed. Therefore, it would be possibly to offer the creditors 100 cents on the dollar in a consumer proposal, but they would receive no additional interest after the proposal starts. Feel free to contact a licensed trustee to fully explore your options.