info@dfcs.today

10 Milner, Business court, Suite 334 Toronto, ON M1B 3C6

416-834-7227

BANKRUPTCY

WHAT IS BANKRUPTCY?

Bankruptcy is a legal process in which a person who is unable to pay their debts as they become due is abie to get rid of most of the debts.

WHAT ARE THE ELIGIBILITY CRITERIA FOR FILING A CONSUMER PROPOSAL?

In order to file a consumer proposal there are two main requirements:

1. You must owe less than $250,000 of unsecured debt (excluding the mortgage(s) for the home you live in, the “principal residence”); and

2. You have the ability to fund the proposal payment (monthly / lump-sum).

If you owe more than $250,000 of unsecured debt, you may want to consider a Division 1 proposal.
To learn more, please contact us and we would be happy to explain how a Division 1 proposal work.

Why should I choose a consumer proposal over a bankruptcy?

More and more people in financial difficulty choose a consumer proposal over a personal bankruptcy for the following 3 reasons;

1. You get to keep your assets.

2. You stop all additional interest charges.

3. Your collections calls, wage garnishees and legal actions stop.

want to learn more? Contact us for a free initial consultation and we will review all your options to determine if we can help you get started towards a better financial future.

Call 416.834.7227 to schedule a meeting