If I File for a Consumer Proposal Does It Mean I’m Bankrupt?

If you file for a consumer proposal does it mean you’re bankrupt? It’s a common question we receive, but the short answer is NO. While both programs are administered under the Insolvency Act, filing for a consumer proposal and filing for...

Posted | by |in Bankruptcy, Blog, Consumer Proposal, Credit Score, Debt Help, DebtCare, DebtCare Canada

How is a Consumer Proposal Different from a Bankruptcy?

Consumer proposal vs. bankruptcy — what’s the difference? At first glance, they can appear similar. Both clear your debt, stop collection action, and can harm your credit. But when we get into the nitty-gritty, there are several big things...

Posted | by |in Bankruptcy Trustee, Blog, Consumer Proposal, Consumer Proposal vs. Bankruptcy, Get Out of Debt