Consumer Proposal Edmonton

A Consumer Proposal Can Protect Your Assets

Let’s face it: most of us have, at one time or another in our lives, made some bad decisions. For many of us, those bad decisions have had to do with debt and when you don’t pay attention to your bills and the mounting debt piling up all around you, then you could wake up one day with collection agents and creditors breathing down your neck. A consumer proposal may be the best way to stem the tide of mounting debt that will give you the time you need to pay off your debt and protect the assets that you currently have.

A consumer proposal isn’t like marriage

You don’t have to run for cover and hide in the corner of your room when you hear about a consumer proposal. While a marriage proposal can certainly cause the faint of heart some anxiety and stress for that lifetime commitment that it is tied to, a consumer proposal is not a life-long commitment by any stretch of the imagination.

You’re not going to have to sell your first born child to your creditors to reach an agreement. A consumer proposal is simply a means to negotiate a payment arrangement and schedule with your lenders, whether they happen to be credit card companies, mortgage companies, or other lenders. When people ignore their monthly statements and try to hide from their creditors, that’s when things can tend to get ugly, which usually causes those people to hide more from their creditors and the cycle spins faster and harder. Before you know it, suddenly your assets, including your home, can suddenly be threatened.

Communicate with a consumer proposal

When you communicate with your debtors using a consumer proposal, in Edmonton or wherever else you happen to be in Canada, you are showing them that you have intent to repay your debts and obligations. Sure, you could walk away from them, change your address, and assume that no one will ever find you, and you might be right. But that kind of behavior will stay on your credit report for years to come.

But wait, you thought that all of that information is supposed to come off your credit report after six years, right? Sure, it is, but here’s the catch. If your creditor decides to sell your debt to someone else in three or four or five years, suddenly that can all start up again and you’ll have to wait another six years if you want it off your credit report. A consumer proposal ensures the credit report gets cleared off in a specific timeframe

Hey, don’t worry if you have no clue how to draw up a consumer proposal. There are a number of incredible debt restructuring businesses in the area that can help you write a consumer proposal that will help get your life back on track.

Do you want to stop cringing every time the phones? Sure you do. Do you want to be able to sit back and relax at home with your family and not worry about what may happen tomorrow with all of that debt you’re late paying? I would hope so.

Consider a consumer proposal and start on your path to a better future, a debt-free future.