{"id":12029,"date":"2024-12-09T10:10:39","date_gmt":"2024-12-09T18:10:39","guid":{"rendered":"https:\/\/www.sands-trustee.com\/?p=12029"},"modified":"2025-09-26T11:32:01","modified_gmt":"2025-09-26T18:32:01","slug":"consumer-proposal-pros-cons","status":"publish","type":"post","link":"https:\/\/www.sands-trustee.com\/blog\/consumer-proposal-pros-cons\/","title":{"rendered":"Consumer Proposal Pros and Cons"},"content":{"rendered":"\r\n<p>Managing debt with a Consumer Proposal can offer many benefits to people looking to successfully consolidate, cut, and pay off their debt. Read on to understand key pros and cons of consolidating debt with a Consumer Proposal, and other details to know if you\u2019re wondering if a Consumer Proposal is right for you.<\/p>\r\n\r\n\r\n\r\n<h2 id=\"h-how-does-consumer-proposal-debt-consolidation-work-nbsp\" class=\"wp-block-heading\"><strong>How Does Consumer Proposal Debt Consolidation Work?<\/strong><strong>\u00a0<\/strong><\/h2>\r\n\r\n\r\n\r\n<p>A Consumer Proposal is a legal debt solution that allows an individual to consolidate virtually all their debts into one repayment plan and cut the amount of debt that needs to be repaid to have all accounts settled in full. A Consumer Proposal is customized to meet the person\u2019s specific situation and needs, and it\u2019s not uncommon for total debts to be cut by as much as 50-80% or more.<\/p>\r\n\r\n\r\n\n\n            <div class=\"background-block-wrapper grey\">\n            <div class=\"container\">\n                <div class=\"cols gap\">\n                                        <div class=\"col col-75\">\n    \n\r\n\r\n\r\n<p>For example, you might owe a total of $25,000 across various accounts and offer to pay $300 a month for 36 months, for a total repayment of $10,800, cutting your debt by roughly 60%.<\/p>\r\n\r\n\r\n\n            <\/div>\n            <\/div>\n        <\/div>\n        <\/div>\n    \n\n\r\n\r\n\r\n<p>Working with a Licensed Insolvency Trustee together you will determine the portion of your debt that you can afford to repay over a period of <em>up to<\/em> 60 months. Your debts will legally be frozen, and no interest will be charged as you make your Consumer Proposal payments, which are usually monthly. Once you\u2019ve completed the terms of your offer the unpaid debt will be considered forgiven and can never again be legally attached to you.<\/p>\r\n\r\n\r\n\r\n<ul class=\"wp-block-list\">\r\n<li>If your total debt is between $1,000 and $250,000 (not including your mortgage) and you are unable to immediately repay all your debts, a Consumer Proposal is one of the best ways to consolidate (and cut) your debt, getting you to debt-free in five years or less.<\/li>\r\n<\/ul>\r\n\r\n\r\n\n\n            <div class=\"background-block-wrapper blue\">\n            <div class=\"container\">\n                <div class=\"cols gap\">\n                                        <div class=\"col col-75\">\n    \n\r\n\r\n\r\n<p>Consumer Proposals are a unique debt solution and in addition to substantially cutting your debt, they have many advantages over consolidation loans, credit counselling plans and <a href=index-296.html>bankruptcy<\/a>.<strong>\u00a0<\/strong><\/p>\r\n\r\n\r\n\n<div class=\"cta-with-bg-image-content  white center no-bg-img\"   style=\" \">\n    <div class=\"gradient gradient-teal\" >\n        <div class=\"content\">\n            <h2>\n                <span>GET A FINANCIAL<\/span>\n                FRESH START            <\/h2>\n            <p>Book your free consultation with one of our experts and start living a debt-free life.<\/p>\n            <a href=index-279.html class=\"red-btn\">\n                BOOK YOUR FREE CONSULTATION            <\/a>\n        <\/div>\n    <\/div>\n<\/div>\n\r\n\r\n\n            <\/div>\n            <\/div>\n        <\/div>\n        <\/div>\n    \n\n\r\n\r\n\r\n<h2 id=\"h-what-are-the-key-pros-to-choosing-a-consumer-proposal-nbsp\" class=\"wp-block-heading\"><strong>What are the Key \u201cPros\u201d to Choosing a Consumer Proposal?<\/strong><strong>\u00a0<\/strong><\/h2>\r\n\r\n\r\n\r\n<p>Some of the pros to consolidating and cutting your debt with a Consumer Proposal can include:<\/p>\r\n\r\n\r\n\r\n<ul class=\"wp-block-list\">\r\n<li>Your Proposal will be legally binding on <em>all<\/em> your creditors if the majority (by dollar value) agree to your offer. You can <a href=index-645.html>consolidate virtually all your debt<\/a>, from credit cards to payday loans, lines of credit to overdrafts, government debts like student loans, outstanding taxes and GST and more.\r\n<ul class=\"wp-block-list\">\r\n<li>You have the option to continue with \u2018secured\u2019 arrangements for financing such as your mortgage and\/or car payments outside of your Consumer Proposal.<\/li>\r\n<\/ul>\r\n<\/li>\r\n\r\n\r\n\r\n<li>No new interest is charged on your debt, your balances are frozen.<\/li>\r\n\r\n\r\n\r\n<li>Make a single, <a href=index-560.html>affordable monthly payment<\/a>, which can make managing day-to-day finances much easier.<\/li>\r\n\r\n\r\n\r\n<li>Even if your financial situation improves, your payment terms will remain the same, although you may want to pay more on your Proposal to pay it off sooner.<\/li>\r\n\r\n\r\n\r\n<li>Your assets and income will be legally protected, and you\u2019ll continue to receive income tax refunds and other tax credits as you normally would.<\/li>\r\n\r\n\r\n\r\n<li>Creditors will be prohibited from contacting you for payments and must halt all other collection actions, lawsuits and harassment. Even wage garnishments from Canada Revenue Agency must cease immediately after a Consumer Proposal is filed.<\/li>\r\n\r\n\r\n\r\n<li>You will have a clear debt-free date within the next five years, and you can pay off your Consumer Proposal early at any time, without penalty.<\/li>\r\n<\/ul>\r\n\r\n\r\n\n\n            <div class=\"background-block-wrapper grey\">\n            <div class=\"container\">\n                <div class=\"cols gap\">\n                                        <div class=\"col col-75\">\n    \n\r\n\r\n\r\n<p>What\u2019s more, to make a Consumer Proposal you\u2019ll work with a Licensed Insolvency Trustee. We are Canada\u2019s only designated debt help specialists, and only a Licensed Insolvency Trustee can manage a Consumer Proposal for you, which comes with some advantages too:<\/p>\r\n\r\n\r\n\r\n<ul class=\"wp-block-list\">\r\n<li>Your Licensed Insolvency Trustee will handle all the administration, including communicating with your creditors about your Proposal and distributing payments to them.<\/li>\r\n\r\n\r\n\r\n<li>You\u2019ll have two private <a href=index-613.html>financial counselling sessions with a Qualified Insolvency Counsellor<\/a>, giving you the opportunity to have one-on-one support for financial tools and resources, from budgeting to credit building and more.<\/li>\r\n\r\n\r\n\r\n<li>There is no out-of-pocket cost for your Licensed Insolvency Trustee\u2019s services. Your Trustee\u2019s administrative fees are set by government tariff and paid from the funds your creditors receive \u2013 in this way, your creditors are absorbing the cost.<\/li>\r\n<\/ul>\r\n\r\n\r\n\r\n<p class=\"has-text-align-center\"><a href=index-658.html>Learn More About What to Expect Working with a Licensed Insolvency Trustee<\/a><\/p>\r\n\r\n\r\n\n<div class=\"cta-with-bg-image-content  white center no-bg-img\"   style=\" \">\n    <div class=\"gradient gradient-teal\" >\n        <div class=\"content\">\n            <h2>\n                <span>GET A FINANCIAL<\/span>\n                FRESH START            <\/h2>\n            <p>Book your free consultation with one of our experts and start living a debt-free life.<\/p>\n            <a href=index-279.html class=\"red-btn\">\n                BOOK YOUR FREE CONSULTATION            <\/a>\n        <\/div>\n    <\/div>\n<\/div>\n\r\n\r\n\n            <\/div>\n            <\/div>\n        <\/div>\n        <\/div>\n    \n\n\r\n\r\n\r\n<p>Lastly, some people may simply choose a Consumer Proposal because they can\u2019t afford their debt payments anymore and they want to avoid filing for bankruptcy. In addition to the Consumer Proposal pros above, a Consumer Proposal can be more appealing than bankruptcy because there are no monthly budgets to submit, you\u2019ll keep all your tax refunds, and there is less impact to your credit history.<\/p>\r\n\r\n\r\n\r\n<p class=\"has-text-align-center\"><a href=index-283.html>Consumer Proposals VS Bankruptcy in Canada \u2013 Learn More<\/a><\/p>\r\n\r\n\r\n\r\n<h2 id=\"h-are-there-disadvantages-or-cons-to-making-a-consumer-proposal-nbsp\" class=\"wp-block-heading\"><strong>Are there Disadvantages or \u201cCons\u201d to Making a Consumer Proposal?<\/strong><strong>\u00a0<\/strong><\/h2>\r\n\r\n\r\n\r\n<p>A Consumer Proposal can be a great fit for a lot of situations \u2013 especially compared to other options like consolidation loans, credit counselling plans, or trying to continue paying your debt in full with interest when you\u2019re struggling to manage payments or growing balances. However, a Consumer Proposal may not be suitable for everyone, and some people may consider the following as disadvantages:<\/p>\r\n\r\n\r\n\r\n<p><u>Your Consumer Proposal Will Take Time to Pay Off<\/u><\/p>\r\n\r\n\r\n\r\n<p>You will get the immediate benefits of your Consumer Proposal as soon as it is filed, but of course it still takes time (up to five years) to make all your payments \u2013 and if your monthly payment is low you may need to take the full five years to get your Proposal payments finished.<\/p>\r\n\r\n\r\n\r\n<p>While this timeframe is reasonable in comparison to other options such as consolidation loans or credit counselling plans, it is longer than it would take to complete a personal bankruptcy (this usually takes nine months). Remember though that you can pay off your Proposal early.<\/p>\r\n\r\n\r\n\r\n<p class=\"has-text-align-center\"><a href=index-642.html>What are my Options if I\u2019ve Done a Consumer Proposal Before?<\/a><\/p>\r\n\r\n\r\n\n<div class=\"cta-with-bg-image-content  white center no-bg-img\"   style=\" \">\n    <div class=\"gradient gradient-teal\" >\n        <div class=\"content\">\n            <h2>\n                <span>GET A FINANCIAL<\/span>\n                FRESH START            <\/h2>\n            <p>Book your free consultation with one of our experts and start living a debt-free life.<\/p>\n            <a href=index-279.html class=\"red-btn\">\n                BOOK YOUR FREE CONSULTATION            <\/a>\n        <\/div>\n    <\/div>\n<\/div>\n\r\n\r\n\r\n<p><u>You Need to Complete All the Terms of Your Consumer Proposal<\/u><\/p>\r\n\r\n\r\n\r\n<p>Although you can defer two of your Consumer Proposal payments over the course of the Proposal, if you miss three payments your Consumer Proposal will be considered in default and will be annulled (essentially cancelled).<\/p>\r\n\r\n\r\n\r\n<p>If your situation changes and you can no longer afford your Consumer Proposal payment it may be possible for you to amend your Proposal \u2013 or you could abandon your Proposal and declare personal bankruptcy (although this is less common). It\u2019s always best to talk with your Licensed Insolvency Trustee so you can decide how to move forward.<\/p>\r\n\r\n\r\n\r\n<p class=\"has-text-align-center\"><a href=index-603.html>Consumer Proposals Step-by-Step \u2013 Learn More<\/a><\/p>\r\n\r\n\r\n\r\n<p><u>Your Credit Rating is Temporarily Affected<\/u><\/p>\r\n\r\n\r\n\r\n<p>Any time you don\u2019t pay your debts in full as per the original borrowing terms, your credit rating will be impacted in some way, and it\u2019s no different with a Consumer Proposal.<\/p>\r\n\r\n\r\n\r\n<p>An R7 note will be on your credit report for three years from the date you complete your Proposal, or six years from the date you filed it \u2013 whichever comes first. This is similar to credit counselling plans, and less severe than a bankruptcy filing (which would show as an R9 for six years following your discharge (release) from bankruptcy).<\/p>\r\n\r\n\r\n\n\n            <div class=\"background-block-wrapper grey\">\n            <div class=\"container\">\n                <div class=\"cols gap\">\n                                        <div class=\"col col-75\">\n    \n\r\n\r\n\r\n<p>It\u2019s important to understand this note is temporary and you can begin rebuilding your credit right away and even get new credit before your Proposal is complete. Tips, tools and resources around rebuilding credit are provided as part of the financial counselling sessions.<\/p>\r\n\r\n\r\n\r\n<p class=\"has-text-align-center\"><a href=index-563.html>Credit Rebuilding After Insolvency \u2013 Learn More<\/a><\/p>\r\n\r\n\r\n\n    <div class=\"google-reviews-block-wrapper white\">\n        <div class=\"wprevpro-shortcode-wrapper\"><div><style>#wprev-slider-4 .wprevpro_star_imgs{color: #FDD314;}#wprev-slider-4 .wprsp-star{color: #FDD314;}#wprev-slider-4 .wprevpro_star_imgs span.svgicons {background: #FDD314;}#wprev-slider-4 .wprev_preview_bradius_T5 {border-radius: 0px;}#wprev-slider-4 .wprev_preview_bg1_T5 {border-bottom:3px solid }#wprev-slider-4 .wprs_rd_more,.wprs_rd_less,.wprevpro_btn_show_rdpop{color:#21759b;}#wprev-slider-4 .wprevpro_star_imgs span.svgicons {width: 18px; height: 18px;}#wprev-slider-4 .wprevsiteicon {height: 32px;}#wprev-slider-4 .slickwprev-next:before, #wprev-slider-4 .slickwprev-prev:before {color: rgb(10,10,10);}<\/style><style>#wprev-slider-4 .wprev_preview_bg1_T5{ background: none !important; border: none; } .wprevpro_star_imgs_T5{ display: block; margin-bottom: 8px; } .wprev_preview_tcolor2_T5{ display: block; margin-top: 8px; } .wprev_media_div{ display: none; }<\/style><style>#wprev-slider-4 .indrevlineclamp{display:-webkit-box;-webkit-line-clamp: 5;-webkit-box-orient: vertical;overflow:hidden;hyphens: auto;word-break: auto-phrase;}<\/style><\/div><style>.wprev-google-wr-a {background: #0a6cff !important; color: !important}.wprev-google-wr-a:hover {background: #0a6cffde !important;}.wprev-google-place {background:  !important;border-radius:0px !important;}.wprev-google-place {box-shadow: rgba(0, 0, 0, .00) 0px 0px 0px 0px !important; border: 0px solid #f5f5f5 !important;}.wprev-google-place {flex-direction: column !important;align-items: center !important;}.wprev-google-right {display: flex!important;align-items: center!important;flex-direction: column!important;}.wprev-google-name{margin-bottom: 3px !important;}img.sprev-google-left-src {min-width: 50px !important;min-height: 50px !important;}<\/style><div class=\"wprev_outer_wb\"><div class=\"wprev_badge_div badgeleft\"><div class=\"wprev-google-place\"><div class=\"wprev-google-left badgehideclass\"><img loading=\"lazy\" decoding=\"async\" class=\"sprev-google-left-src\" src=\"https:\/\/www.sands-trustee.com\/wp-content\/plugins\/wp-review-slider-pro\/public\/partials\/imgs\/google-my-business-icon-300x300.png\" alt=\"\" width=\"50\" height=\"50\" title=\"\"><\/div><div class=\"wprev-google-right\"><div class=\"wprev-google-name \"><a href=\"https:\/\/www.google.com\/search?q=Sands+%26+Associates+-+Consumer+Proposals%2C+Debt+Help+%26+Licensed+Insolvency+Trustees+328+Wale+Rd+%23132%2C+Colwood%2C+BC+V9B+0J8%2C+Canada&#038;sort=newestFirst&#038;hl=en&#038;gl=US&#038;gws_rd=cr&#038;ie=UTF-8&#038;oe=UTF-8&#038;uule=w+CAIQIFISCQs2MuSEtepUEUK33kOSuTsc\" target=\"_blank\" rel=\"nofollow noopener\"><span class=\"wprev-businessname\"><\/span><\/a><\/div><div class=\"wprevstardiv\"><span class=\"wprev-google-rating\">4.9<\/span><span class=\"wprevpro_star_imgs_T1\"><span class=\"starloc1 wprevpro_star_imgs wprevpro_star_imgsloc1\"><span class=\"svgicons svg-wprsp-star\"><\/span><span class=\"svgicons svg-wprsp-star\"><\/span><span class=\"svgicons svg-wprsp-star\"><\/span><span class=\"svgicons svg-wprsp-star\"><\/span><span class=\"svgicons svg-wprsp-star\"><\/span><\/span><\/span><\/div><div class=\"wprev-google-basedon \">Based on <span class=\"wprev_btot\">3285<\/span> reviews<\/div><div class=\"wprev-google-powered \"><img loading=\"lazy\" decoding=\"async\" class=\"wprev-google-powered-img\" src=\"https:\/\/www.sands-trustee.com\/wp-content\/plugins\/wp-review-slider-pro\/public\/partials\/imgs\/poweredbygooglew.png\" alt=\"powered by \" width=\"82\" height=\"18\" title=\"powered by \"><img loading=\"lazy\" decoding=\"async\" width=\"16\" height=\"16\" src=\"https:\/\/www.sands-trustee.com\/wp-content\/plugins\/wp-review-slider-pro\/public\/partials\/imgs\/google_small_icon.svg\" alt=\"Google Logo\" class=\"wprevpro_badge_site_logo wprevsiteicon \"><\/div><div class=\"wprev-google-wr badgehideclass\"><a class=\"wprev-google-wr-a\" href=\"https:\/\/www.google.com\/search?q=Sands+%26+Associates+-+Consumer+Proposals%2C+Debt+Help+%26+Licensed+Insolvency+Trustees+328+Wale+Rd+%23132%2C+Colwood%2C+BC+V9B+0J8%2C+Canada&#038;sort=newestFirst&#038;hl=en&#038;gl=US&#038;gws_rd=cr&#038;ie=UTF-8&#038;oe=UTF-8&#038;uule=w+CAIQIFISCQs2MuSEtepUEUK33kOSuTsc\" target=\"_blank\"><div class=\"wprevpro_bbnrevus_btn\">Review Us<\/div><\/a><\/div><\/div><\/div><\/div><div class=\"wprev_badge_div badgereviewscontainer\"><div class=\"wprevpro wprev-slick-slider revnotsameheight\" id=\"wprev-slider-4\"><div id=\"wprevgoslickid_4\"  style=\"display:none;\" class=\"wprevgoslick w3_wprs-row\" data-avatartemplate=\"0\" data-totalreviewsnum=\"10\" data-revsperrow=\"1\" data-wprevmasonry=\"no\" data-loadmore=\"no\" data-avatarnav=\"no\" data-revsameheight=\"no\" data-slickwprev='{\"slidesToShow\": 1,\"slidesToScroll\": 1,\"dots\": false,\"arrows\": true,\"infinite\": false,\"speed\": 750,\"adaptiveHeight\": false,\"centerMode\": false,\"fade\":false,\"centerPadding\": \"60px\", \"rows\":1}'><div class=\" wprevpro_t5_DIV_1 w3_wprs-col l12 outerrevdiv\">\r\n<div class=\"wpproslider_t5_DIV_1a\">\r\n\t<div class=\"wpproslider_t5_DIV_2 wprev_preview_bg1_T5 wprev_preview_bradius_T5\">\r\n\t<div class=\"wpproslider_t5_DIV_3L\" style='display:none;'><span class=\"wpproslider_t5_STRONG_5 wprev_preview_tcolor2_T5\"> &#8211; Jayvee Lester De Castro<\/span><\/div>\r\n\t<div class=\"indrevdiv wpproslider_t5_DIV_3\">\r\n\t\t<div class=\"indrevtxt wpproslider_t5_P_4 wprev_preview_tcolor1_T5\">\r\n\t\t\t<div class='readmoretextdiv indrevlineclamp' data-lines='5' data-revid='2748'><span class=\"wprevpro_star_imgs_T5\"><span class=\"starloc1 wprevpro_star_imgs wprevpro_star_imgsloc1\"><span class=\"svgicons svg-wprsp-star\"><\/span><span class=\"svgicons svg-wprsp-star\"><\/span><span class=\"svgicons svg-wprsp-star\"><\/span><span class=\"svgicons svg-wprsp-star\"><\/span><span class=\"svgicons svg-wprsp-star\"><\/span><\/span><span class=\"verifiedloc1 wprevpro_verified_svg wprevtooltip\" data-wprevtooltip=\"Verified on Google\"><span class=\"svgicons svg-wprsp-verified \"><\/span><\/span><\/span>\r\n\t\t\tI highly recommend Sands and Associates especially Jennifer Thom. If you have problem with you debt. She will give you the best options and support throughout the process.\t\t<span class=\"wpproslider_t5_SPAN_6 wprev_preview_tcolor2_T5\"><span class=\"wprev_showdate_T5\"> &#8211; Jayvee Lester De Castro &#8211;&nbsp;1 day ago&nbsp;<\/span><\/span><\/div><div class='divwprsrdmore' style='opacity:0;'><span class='wprs_rd_more'>read more<\/span><span class='wprs_rd_less' style='display:none;'>read less<\/span><\/div>\t\t\t\t<\/div>\r\n\t\t\r\n\t\t\t\t\t<\/div>\r\n\t\r\n\t<div class=\"wpproslider_t5_DIV_3_logo\"><\/div>\r\n\t<\/div>\r\n\t\r\n<\/div>\r\n\t\r\n<\/div>\r\n<div class=\" wprevpro_t5_DIV_1 w3_wprs-col l12 outerrevdiv\">\r\n<div class=\"wpproslider_t5_DIV_1a\">\r\n\t<div class=\"wpproslider_t5_DIV_2 wprev_preview_bg1_T5 wprev_preview_bradius_T5\">\r\n\t<div class=\"wpproslider_t5_DIV_3L\" style='display:none;'><span class=\"wpproslider_t5_STRONG_5 wprev_preview_tcolor2_T5\"> &#8211; Jarrod Barratt<\/span><\/div>\r\n\t<div class=\"indrevdiv wpproslider_t5_DIV_3\">\r\n\t\t<div class=\"indrevtxt wpproslider_t5_P_4 wprev_preview_tcolor1_T5\">\r\n\t\t\t<div class='readmoretextdiv indrevlineclamp' data-lines='5' data-revid='2743'><span class=\"wprevpro_star_imgs_T5\"><span class=\"starloc1 wprevpro_star_imgs wprevpro_star_imgsloc1\"><span class=\"svgicons svg-wprsp-star\"><\/span><span class=\"svgicons svg-wprsp-star\"><\/span><span class=\"svgicons svg-wprsp-star\"><\/span><span class=\"svgicons svg-wprsp-star\"><\/span><span class=\"svgicons svg-wprsp-star\"><\/span><\/span><span class=\"verifiedloc1 wprevpro_verified_svg wprevtooltip\" data-wprevtooltip=\"Verified on Google\"><span class=\"svgicons svg-wprsp-verified \"><\/span><\/span><\/span>\r\n\t\t\tI&#8217;ve been having financial hardship for quite some time now and I am pleased I reached out to Sands &#038; Associates recently.  They were very quick to get started on helping me with relief and I never once felt judged in the process.  Omer and Jennifer were very polite and informative in the process and I thank you very much for your help and support.  I would recommend Sands &#038; Associates to anybody looking for some flexibility in their financial struggles.\t\t<span class=\"wpproslider_t5_SPAN_6 wprev_preview_tcolor2_T5\"><span class=\"wprev_showdate_T5\"> &#8211; Jarrod Barratt &#8211;&nbsp;1 day ago&nbsp;<\/span><\/span><\/div><div class='divwprsrdmore' style='opacity:0;'><span class='wprs_rd_more'>read more<\/span><span class='wprs_rd_less' style='display:none;'>read less<\/span><\/div>\t\t\t\t<\/div>\r\n\t\t\r\n\t\t\t\t\t<\/div>\r\n\t\r\n\t<div class=\"wpproslider_t5_DIV_3_logo\"><\/div>\r\n\t<\/div>\r\n\t\r\n<\/div>\r\n\t\r\n<\/div>\r\n<div class=\" wprevpro_t5_DIV_1 w3_wprs-col l12 outerrevdiv\">\r\n<div class=\"wpproslider_t5_DIV_1a\">\r\n\t<div class=\"wpproslider_t5_DIV_2 wprev_preview_bg1_T5 wprev_preview_bradius_T5\">\r\n\t<div class=\"wpproslider_t5_DIV_3L\" style='display:none;'><span class=\"wpproslider_t5_STRONG_5 wprev_preview_tcolor2_T5\"> &#8211; All the good things<\/span><\/div>\r\n\t<div class=\"indrevdiv wpproslider_t5_DIV_3\">\r\n\t\t<div class=\"indrevtxt wpproslider_t5_P_4 wprev_preview_tcolor1_T5\">\r\n\t\t\t<div class='readmoretextdiv indrevlineclamp' data-lines='5' data-revid='2744'><span class=\"wprevpro_star_imgs_T5\"><span class=\"starloc1 wprevpro_star_imgs wprevpro_star_imgsloc1\"><span class=\"svgicons svg-wprsp-star\"><\/span><span class=\"svgicons svg-wprsp-star\"><\/span><span class=\"svgicons svg-wprsp-star\"><\/span><span class=\"svgicons svg-wprsp-star\"><\/span><span class=\"svgicons svg-wprsp-star\"><\/span><\/span><span class=\"verifiedloc1 wprevpro_verified_svg wprevtooltip\" data-wprevtooltip=\"Verified on Google\"><span class=\"svgicons svg-wprsp-verified \"><\/span><\/span><\/span>\r\n\t\t\tI found Jennifer Thom to be very helpful and friendly going over my options to get my debt dealt with. I felt welcomed without judgment and she made my stress and anxiety lessen which was huge for me. Thank you for your help and I look forward to a new future where I can be in control and not worried about how I&#8217;m going to survive debt. All the best. Will recommend.\t\t<span class=\"wpproslider_t5_SPAN_6 wprev_preview_tcolor2_T5\"><span class=\"wprev_showdate_T5\"> &#8211; All the good things &#8211;&nbsp;1 day ago&nbsp;<\/span><\/span><\/div><div class='divwprsrdmore' style='opacity:0;'><span class='wprs_rd_more'>read more<\/span><span class='wprs_rd_less' style='display:none;'>read less<\/span><\/div>\t\t\t\t<\/div>\r\n\t\t\r\n\t\t\t\t\t<\/div>\r\n\t\r\n\t<div class=\"wpproslider_t5_DIV_3_logo\"><\/div>\r\n\t<\/div>\r\n\t\r\n<\/div>\r\n\t\r\n<\/div>\r\n<div class=\" wprevpro_t5_DIV_1 w3_wprs-col l12 outerrevdiv\">\r\n<div class=\"wpproslider_t5_DIV_1a\">\r\n\t<div class=\"wpproslider_t5_DIV_2 wprev_preview_bg1_T5 wprev_preview_bradius_T5\">\r\n\t<div class=\"wpproslider_t5_DIV_3L\" style='display:none;'><span class=\"wpproslider_t5_STRONG_5 wprev_preview_tcolor2_T5\"> &#8211; Saba N.<\/span><\/div>\r\n\t<div class=\"indrevdiv wpproslider_t5_DIV_3\">\r\n\t\t<div class=\"indrevtxt wpproslider_t5_P_4 wprev_preview_tcolor1_T5\">\r\n\t\t\t<div class='readmoretextdiv indrevlineclamp' data-lines='5' data-revid='2739'><span class=\"wprevpro_star_imgs_T5\"><span class=\"starloc1 wprevpro_star_imgs wprevpro_star_imgsloc1\"><span class=\"svgicons svg-wprsp-star\"><\/span><span class=\"svgicons svg-wprsp-star\"><\/span><span class=\"svgicons svg-wprsp-star\"><\/span><span class=\"svgicons svg-wprsp-star\"><\/span><span class=\"svgicons svg-wprsp-star\"><\/span><\/span><span class=\"verifiedloc1 wprevpro_verified_svg wprevtooltip\" data-wprevtooltip=\"Verified on Google\"><span class=\"svgicons svg-wprsp-verified \"><\/span><\/span><\/span>\r\n\t\t\tSandra was amazing from start to finish with my consumer proposal. From answering questions and getting back to me in a timely manner when I knew she was very busy, the process was quick and painless. Paying this off will be great and then I can build up my credit again! Thanks again, Sandra \u2665\ufe0f\t\t<span class=\"wpproslider_t5_SPAN_6 wprev_preview_tcolor2_T5\"><span class=\"wprev_showdate_T5\"> &#8211; Saba N. &#8211;&nbsp;1 day ago&nbsp;<\/span><\/span><\/div><div class='divwprsrdmore' style='opacity:0;'><span class='wprs_rd_more'>read more<\/span><span class='wprs_rd_less' style='display:none;'>read less<\/span><\/div>\t\t\t\t<\/div>\r\n\t\t\r\n\t\t\t\t\t<\/div>\r\n\t\r\n\t<div class=\"wpproslider_t5_DIV_3_logo\"><\/div>\r\n\t<\/div>\r\n\t\r\n<\/div>\r\n\t\r\n<\/div>\r\n<div class=\" wprevpro_t5_DIV_1 w3_wprs-col l12 outerrevdiv\">\r\n<div class=\"wpproslider_t5_DIV_1a\">\r\n\t<div class=\"wpproslider_t5_DIV_2 wprev_preview_bg1_T5 wprev_preview_bradius_T5\">\r\n\t<div class=\"wpproslider_t5_DIV_3L\" style='display:none;'><span class=\"wpproslider_t5_STRONG_5 wprev_preview_tcolor2_T5\"> &#8211; Ali D<\/span><\/div>\r\n\t<div class=\"indrevdiv wpproslider_t5_DIV_3\">\r\n\t\t<div class=\"indrevtxt wpproslider_t5_P_4 wprev_preview_tcolor1_T5\">\r\n\t\t\t<div class='readmoretextdiv indrevlineclamp' data-lines='5' data-revid='2747'><span class=\"wprevpro_star_imgs_T5\"><span class=\"starloc1 wprevpro_star_imgs wprevpro_star_imgsloc1\"><span class=\"svgicons svg-wprsp-star\"><\/span><span class=\"svgicons svg-wprsp-star\"><\/span><span class=\"svgicons svg-wprsp-star\"><\/span><span class=\"svgicons svg-wprsp-star\"><\/span><span class=\"svgicons svg-wprsp-star\"><\/span><\/span><span class=\"verifiedloc1 wprevpro_verified_svg wprevtooltip\" data-wprevtooltip=\"Verified on Google\"><span class=\"svgicons svg-wprsp-verified \"><\/span><\/span><\/span>\r\n\t\t\tI went to Sands &#038; Associates because I was overwhelmed with my debt and had no idea what to do. Camille helped me set up my consumer proposal, and honestly, she made the whole process so much easier than I expected.<br>\n<br>\nShe explained everything clearly \u2014 what a consumer proposal is, how it works, what my monthly payment would look like, and what debts would be included. She never made me feel embarrassed or judged, just supported.<br>\n<br>\nBecause of her, I finally feel like I have control over my finances again. She walked me through every step, answered all my questions, and made sure I fully understood what I was signing up for. I\u2019m so relieved and grateful.<br>\n<br>\nIf you\u2019re thinking about a consumer proposal or just don\u2019t know where to start with your debt, talk to Camille. She\u2019s patient, caring, and really knows what she\u2019s doing. Highly recommend! \ud83d\ude4c\t\t<span class=\"wpproslider_t5_SPAN_6 wprev_preview_tcolor2_T5\"><span class=\"wprev_showdate_T5\"> &#8211; Ali D &#8211;&nbsp;1 day ago&nbsp;<\/span><\/span><\/div><div class='divwprsrdmore' style='opacity:0;'><span class='wprs_rd_more'>read more<\/span><span class='wprs_rd_less' style='display:none;'>read less<\/span><\/div>\t\t\t\t<\/div>\r\n\t\t\r\n\t\t\t\t\t<\/div>\r\n\t\r\n\t<div class=\"wpproslider_t5_DIV_3_logo\"><\/div>\r\n\t<\/div>\r\n\t\r\n<\/div>\r\n\t\r\n<\/div>\r\n<div class=\" wprevpro_t5_DIV_1 w3_wprs-col l12 outerrevdiv\">\r\n<div class=\"wpproslider_t5_DIV_1a\">\r\n\t<div class=\"wpproslider_t5_DIV_2 wprev_preview_bg1_T5 wprev_preview_bradius_T5\">\r\n\t<div class=\"wpproslider_t5_DIV_3L\" style='display:none;'><span class=\"wpproslider_t5_STRONG_5 wprev_preview_tcolor2_T5\"> &#8211; Shubham Batra<\/span><\/div>\r\n\t<div class=\"indrevdiv wpproslider_t5_DIV_3\">\r\n\t\t<div class=\"indrevtxt wpproslider_t5_P_4 wprev_preview_tcolor1_T5\">\r\n\t\t\t<div class='readmoretextdiv indrevlineclamp' data-lines='5' data-revid='2740'><span class=\"wprevpro_star_imgs_T5\"><span class=\"starloc1 wprevpro_star_imgs wprevpro_star_imgsloc1\"><span class=\"svgicons svg-wprsp-star\"><\/span><span class=\"svgicons svg-wprsp-star\"><\/span><span class=\"svgicons svg-wprsp-star\"><\/span><span class=\"svgicons svg-wprsp-star\"><\/span><span class=\"svgicons svg-wprsp-star\"><\/span><\/span><span class=\"verifiedloc1 wprevpro_verified_svg wprevtooltip\" data-wprevtooltip=\"Verified on Google\"><span class=\"svgicons svg-wprsp-verified \"><\/span><\/span><\/span>\r\n\t\t\tI had an exceptional experience with Sands &#038; Associates during one of the most stressful periods of my life. I was overwhelmed, anxious, and unsure of where to turn, but the team treated me with genuine care and understanding from the very first moment.<br>\n<br>\nHelen was absolutely amazing, patient, compassionate, and incredibly knowledgeable. She made everything easy to understand and helped me feel supported at every step. Hashan was also extremely helpful and kind, always quick to respond and guiding me with professionalism and empathy.<br>\n<br>\nThanks to both of them, I finally felt relief and clarity during a really difficult time. I\u2019m truly grateful for their support and highly recommend Sands &#038; Associates to anyone who needs trustworthy help and real compassion.\t\t<span class=\"wpproslider_t5_SPAN_6 wprev_preview_tcolor2_T5\"><span class=\"wprev_showdate_T5\"> &#8211; Shubham Batra &#8211;&nbsp;1 day ago&nbsp;<\/span><\/span><\/div><div class='divwprsrdmore' style='opacity:0;'><span class='wprs_rd_more'>read more<\/span><span class='wprs_rd_less' style='display:none;'>read less<\/span><\/div>\t\t\t\t<\/div>\r\n\t\t\r\n\t\t\t\t\t<\/div>\r\n\t\r\n\t<div class=\"wpproslider_t5_DIV_3_logo\"><\/div>\r\n\t<\/div>\r\n\t\r\n<\/div>\r\n\t\r\n<\/div>\r\n<div class=\" wprevpro_t5_DIV_1 w3_wprs-col l12 outerrevdiv\">\r\n<div class=\"wpproslider_t5_DIV_1a\">\r\n\t<div class=\"wpproslider_t5_DIV_2 wprev_preview_bg1_T5 wprev_preview_bradius_T5\">\r\n\t<div class=\"wpproslider_t5_DIV_3L\" style='display:none;'><span class=\"wpproslider_t5_STRONG_5 wprev_preview_tcolor2_T5\"> &#8211; Emilee Stonehouse<\/span><\/div>\r\n\t<div class=\"indrevdiv wpproslider_t5_DIV_3\">\r\n\t\t<div class=\"indrevtxt wpproslider_t5_P_4 wprev_preview_tcolor1_T5\">\r\n\t\t\t<div class='readmoretextdiv indrevlineclamp' data-lines='5' data-revid='2742'><span class=\"wprevpro_star_imgs_T5\"><span class=\"starloc1 wprevpro_star_imgs wprevpro_star_imgsloc1\"><span class=\"svgicons svg-wprsp-star\"><\/span><span class=\"svgicons svg-wprsp-star\"><\/span><span class=\"svgicons svg-wprsp-star\"><\/span><span class=\"svgicons svg-wprsp-star\"><\/span><span class=\"svgicons svg-wprsp-star\"><\/span><\/span><span class=\"verifiedloc1 wprevpro_verified_svg wprevtooltip\" data-wprevtooltip=\"Verified on Google\"><span class=\"svgicons svg-wprsp-verified \"><\/span><\/span><\/span>\r\n\t\t\tI am very happy I got to work with Sand &#038; Associates. It has been making life so much easy dealing with the debt I had. Plus working with Dana, and everyone there has been a delight to move things forward and easier. Thank you Sands &#038; Associates!\t\t<span class=\"wpproslider_t5_SPAN_6 wprev_preview_tcolor2_T5\"><span class=\"wprev_showdate_T5\"> &#8211; Emilee Stonehouse &#8211;&nbsp;2 days ago&nbsp;<\/span><\/span><\/div><div class='divwprsrdmore' style='opacity:0;'><span class='wprs_rd_more'>read more<\/span><span class='wprs_rd_less' style='display:none;'>read less<\/span><\/div>\t\t\t\t<\/div>\r\n\t\t\r\n\t\t\t\t\t<\/div>\r\n\t\r\n\t<div class=\"wpproslider_t5_DIV_3_logo\"><\/div>\r\n\t<\/div>\r\n\t\r\n<\/div>\r\n\t\r\n<\/div>\r\n<div class=\" wprevpro_t5_DIV_1 w3_wprs-col l12 outerrevdiv\">\r\n<div class=\"wpproslider_t5_DIV_1a\">\r\n\t<div class=\"wpproslider_t5_DIV_2 wprev_preview_bg1_T5 wprev_preview_bradius_T5\">\r\n\t<div class=\"wpproslider_t5_DIV_3L\" style='display:none;'><span class=\"wpproslider_t5_STRONG_5 wprev_preview_tcolor2_T5\"> &#8211; ga wa<\/span><\/div>\r\n\t<div class=\"indrevdiv wpproslider_t5_DIV_3\">\r\n\t\t<div class=\"indrevtxt wpproslider_t5_P_4 wprev_preview_tcolor1_T5\">\r\n\t\t\t<div class='readmoretextdiv indrevlineclamp' data-lines='5' data-revid='2746'><span class=\"wprevpro_star_imgs_T5\"><span class=\"starloc1 wprevpro_star_imgs wprevpro_star_imgsloc1\"><span class=\"svgicons svg-wprsp-star\"><\/span><span class=\"svgicons svg-wprsp-star\"><\/span><span class=\"svgicons svg-wprsp-star\"><\/span><span class=\"svgicons svg-wprsp-star\"><\/span><span class=\"svgicons svg-wprsp-star\"><\/span><\/span><span class=\"verifiedloc1 wprevpro_verified_svg wprevtooltip\" data-wprevtooltip=\"Verified on Google\"><span class=\"svgicons svg-wprsp-verified \"><\/span><\/span><\/span>\r\n\t\t\tGreat and quick communication<br>\nSelina helped me with my case.<br>\nWas so stressed, quick responses from her helped me calm down.<br>\nThank you so much Selina<br>\nYou are awesome\t\t<span class=\"wpproslider_t5_SPAN_6 wprev_preview_tcolor2_T5\"><span class=\"wprev_showdate_T5\"> &#8211; ga wa &#8211;&nbsp;3 days ago&nbsp;<\/span><\/span><\/div><div class='divwprsrdmore' style='opacity:0;'><span class='wprs_rd_more'>read more<\/span><span class='wprs_rd_less' style='display:none;'>read less<\/span><\/div>\t\t\t\t<\/div>\r\n\t\t\r\n\t\t\t\t\t<\/div>\r\n\t\r\n\t<div class=\"wpproslider_t5_DIV_3_logo\"><\/div>\r\n\t<\/div>\r\n\t\r\n<\/div>\r\n\t\r\n<\/div>\r\n<div class=\" wprevpro_t5_DIV_1 w3_wprs-col l12 outerrevdiv\">\r\n<div class=\"wpproslider_t5_DIV_1a\">\r\n\t<div class=\"wpproslider_t5_DIV_2 wprev_preview_bg1_T5 wprev_preview_bradius_T5\">\r\n\t<div class=\"wpproslider_t5_DIV_3L\" style='display:none;'><span class=\"wpproslider_t5_STRONG_5 wprev_preview_tcolor2_T5\"> &#8211; Jenna Sullivan<\/span><\/div>\r\n\t<div class=\"indrevdiv wpproslider_t5_DIV_3\">\r\n\t\t<div class=\"indrevtxt wpproslider_t5_P_4 wprev_preview_tcolor1_T5\">\r\n\t\t\t<div class='readmoretextdiv indrevlineclamp' data-lines='5' data-revid='2734'><span class=\"wprevpro_star_imgs_T5\"><span class=\"starloc1 wprevpro_star_imgs wprevpro_star_imgsloc1\"><span class=\"svgicons svg-wprsp-star\"><\/span><span class=\"svgicons svg-wprsp-star\"><\/span><span class=\"svgicons svg-wprsp-star\"><\/span><span class=\"svgicons svg-wprsp-star\"><\/span><span class=\"svgicons svg-wprsp-star\"><\/span><\/span><span class=\"verifiedloc1 wprevpro_verified_svg wprevtooltip\" data-wprevtooltip=\"Verified on Google\"><span class=\"svgicons svg-wprsp-verified \"><\/span><\/span><\/span>\r\n\t\t\tWorking with Carolyn was an absolute relief. From our very first conversation, she made what could have been a stressful situation feel manageable and even hopeful. She explained everything clearly, answered all my questions with patience and understanding, and made sure I felt supported every step of the way. Her professionalism and compassion made a huge difference, and I\u2019m incredibly grateful for her help. I would highly recommend Carolyn and Sands &#038; Associates to anyone who needs guidance and wants to feel truly cared for through the process.\t\t<span class=\"wpproslider_t5_SPAN_6 wprev_preview_tcolor2_T5\"><span class=\"wprev_showdate_T5\"> &#8211; Jenna Sullivan &#8211;&nbsp;3 days ago&nbsp;<\/span><\/span><\/div><div class='divwprsrdmore' style='opacity:0;'><span class='wprs_rd_more'>read more<\/span><span class='wprs_rd_less' style='display:none;'>read less<\/span><\/div>\t\t\t\t<\/div>\r\n\t\t\r\n\t\t\t\t\t<\/div>\r\n\t\r\n\t<div class=\"wpproslider_t5_DIV_3_logo\"><\/div>\r\n\t<\/div>\r\n\t\r\n<\/div>\r\n\t\r\n<\/div>\r\n<div class=\" wprevpro_t5_DIV_1 w3_wprs-col l12 outerrevdiv\">\r\n<div class=\"wpproslider_t5_DIV_1a\">\r\n\t<div class=\"wpproslider_t5_DIV_2 wprev_preview_bg1_T5 wprev_preview_bradius_T5\">\r\n\t<div class=\"wpproslider_t5_DIV_3L\" style='display:none;'><span class=\"wpproslider_t5_STRONG_5 wprev_preview_tcolor2_T5\"> &#8211; Deep Brar<\/span><\/div>\r\n\t<div class=\"indrevdiv wpproslider_t5_DIV_3\">\r\n\t\t<div class=\"indrevtxt wpproslider_t5_P_4 wprev_preview_tcolor1_T5\">\r\n\t\t\t<div class='readmoretextdiv indrevlineclamp' data-lines='5' data-revid='2741'><span class=\"wprevpro_star_imgs_T5\"><span class=\"starloc1 wprevpro_star_imgs wprevpro_star_imgsloc1\"><span class=\"svgicons svg-wprsp-star\"><\/span><span class=\"svgicons svg-wprsp-star\"><\/span><span class=\"svgicons svg-wprsp-star\"><\/span><span class=\"svgicons svg-wprsp-star\"><\/span><span class=\"svgicons svg-wprsp-star\"><\/span><\/span><span class=\"verifiedloc1 wprevpro_verified_svg wprevtooltip\" data-wprevtooltip=\"Verified on Google\"><span class=\"svgicons svg-wprsp-verified \"><\/span><\/span><\/span>\r\n\t\t\tI can\u2019t thank Sands &#038; Associates enough, especially Jagdip Dial, for helping me through one of the most stressful times in my life. I was buried under debt and didn\u2019t know where to turn, but Jagdip treated me with genuine kindness and respect from day one.<br>\n<br>\nHe walked me through every detail of the consumer proposal process, explained everything clearly, and never once made me feel judged. Because of his patience and guidance, I finally feel like I can breathe again and start rebuilding my life with confidence.<br>\n<br>\nIf you\u2019re struggling with debt and feeling hopeless, please reach out to Jagdip and the team \u2014 they truly care, and they\u2019ll help you find a way forward.\t\t<span class=\"wpproslider_t5_SPAN_6 wprev_preview_tcolor2_T5\"><span class=\"wprev_showdate_T5\"> &#8211; Deep Brar &#8211;&nbsp;3 days ago&nbsp;<\/span><\/span><\/div><div class='divwprsrdmore' style='opacity:0;'><span class='wprs_rd_more'>read more<\/span><span class='wprs_rd_less' style='display:none;'>read less<\/span><\/div>\t\t\t\t<\/div>\r\n\t\t\r\n\t\t\t\t\t<\/div>\r\n\t\r\n\t<div class=\"wpproslider_t5_DIV_3_logo\"><\/div>\r\n\t<\/div>\r\n\t\r\n<\/div>\r\n\t\r\n<\/div>\r\n<\/div><\/div><\/div><\/div><\/div>    <\/div>\n\r\n\r\n\n            <\/div>\n            <\/div>\n        <\/div>\n        <\/div>\n    \n\n\r\n\r\n\r\n<p><u>Some Types of Debt Can\u2019t be Cleared in a Consumer Proposal<\/u><\/p>\r\n\r\n\r\n\r\n<p>There are a handful of debts that won\u2019t be cleared through a Consumer Proposal, or by any means other than paying them. The most common include:<\/p>\r\n\r\n\r\n\r\n<ul class=\"wp-block-list\">\r\n<li>Child support or spousal support debts<\/li>\r\n\r\n\r\n\r\n<li>Court-imposed fines and debts due to fraud<\/li>\r\n\r\n\r\n\r\n<li>Student loans where you have been out of school <em>for less than seven years<\/em><em>\u2013 <\/em>older student loans can be consolidated and cut just like any other debt.\r\n<ul class=\"wp-block-list\">\r\n<li>If it\u2019s been more than five but under seven years since you finished studies and you\u2019re still struggling with your loan payments a court <em>may <\/em>order your government student loans be forgiven upon completion of your Proposal.<\/li>\r\n<\/ul>\r\n<\/li>\r\n<\/ul>\r\n\r\n\r\n\n\n            <div class=\"background-block-wrapper blue\">\n            <div class=\"container\">\n                <div class=\"cols gap\">\n                                        <div class=\"col col-75\">\n    \n\r\n\r\n\r\n<p>If you do have any of these debts in addition to other debts that can be reduced with a Consumer Proposal (credit cards, <a href=\"https:\/\/www.sands-trustee.com\/blog\/having-government-debts-forgiven\/\">Canada Revenue Agency debts<\/a>, etc.), a Consumer Proposal may still be a good option, as dealing with the <em>other debts<\/em> can help you to better manage what remains payable.<\/p>\r\n\r\n\r\n\r\n<p class=\"has-text-align-center\"><a href=\"https:\/\/www.sands-trustee.com\/blog\/pay-off-student-loans-bc\/\">Read More About Paying Off Student Loans in BC<\/a><\/p>\r\n\r\n\r\n\n<div class=\"cta-with-bg-image-content  white center no-bg-img\"   style=\" \">\n    <div class=\"gradient gradient-teal\" >\n        <div class=\"content\">\n            <h2>\n                <span>GET A FINANCIAL<\/span>\n                FRESH START            <\/h2>\n            <p>Book your free consultation with one of our experts and start living a debt-free life.<\/p>\n            <a href=\"\/free-debt-consultation\/\" class=\"red-btn\">\n                BOOK YOUR FREE CONSULTATION            <\/a>\n        <\/div>\n    <\/div>\n<\/div>\n\r\n\r\n\n            <\/div>\n            <\/div>\n        <\/div>\n        <\/div>\n    \n\n\r\n\r\n\r\n<h2 id=\"h-how-is-a-consumer-proposal-payment-calculated\" class=\"wp-block-heading\"><strong>How is a Consumer Proposal Payment Calculated?<\/strong><\/h2>\r\n\r\n\r\n\r\n<p>Debt repayment terms in a Consumer Proposal are flexible and tailored to your individual situation, making a Consumer Proposal a suitable debt management option in many circumstances.<\/p>\r\n\r\n\r\n\r\n<p>Consumer Proposals filed by Sands &amp; Associates\u2019 Licensed Insolvency Trustees are often successful in reducing debts by up to 50-80% and some <a href=\"https:\/\/www.sands-trustee.com\/blog\/much-debt-will-consumer-proposal-eliminate\/\">considerations to determine how much debt your Consumer Proposal could cut<\/a> include:<\/p>\r\n\r\n\r\n\r\n<ul class=\"wp-block-list\">\r\n<li>Your overall personal situation and finances including income, expenses, and household size.<\/li>\r\n\r\n\r\n\r\n<li>How much debt you have, and who your creditors are.<\/li>\r\n<\/ul>\r\n\r\n\r\n\r\n<p>The rules around Consumer Proposals give you lots of flexibility in terms of how long you can stretch out your Proposal payments and how much of your debt you repay \u2013 and unlike many consolidation loans that can last seven or ten years, a Consumer Proposal will last a\u00a0<em>maximum<\/em>\u00a0of five years, and terms of two-to-three years are quite common.<\/p>\r\n\r\n\r\n\n\n            <div class=\"background-block-wrapper grey\">\n            <div class=\"container\">\n                <div class=\"cols gap\">\n                                        <div class=\"col col-75\">\n    \n\r\n\r\n\r\n<p>Although most people opt for monthly Consumer Proposal payments, it is possible to make a Consumer Proposal that offers your creditors a single lump-sum payment in full settlement, instead of making monthly payments.<\/p>\r\n\r\n\r\n\n            <\/div>\n            <\/div>\n        <\/div>\n        <\/div>\n    \n\n\r\n\r\n\r\n<p>A Licensed Insolvency Trustee will help you work out a suitable offer to your creditors that takes into account your personal financial situation including your household budget, the amount of debt you can afford to repay and other financial goals you may have.<\/p>\r\n\r\n\r\n\r\n<h3 id=\"h-a-consumer-proposal-starts-with-a-free-confidential-consultation\" class=\"wp-block-heading\"><strong>A Consumer Proposal Starts with a Free, Confidential Consultation<\/strong><\/h3>\r\n\r\n\r\n\r\n<p>When you want qualified debt advice the best thing to do is talk with a local Licensed Insolvency Trustee and have a free, confidential consultation. Sands &amp; Associates serves residents across BC and <a href=\"https:\/\/www.sands-trustee.com\/free-debt-consultation\/preparing-for-your-first-meeting\/\">in 30 minutes we can help you explore all your options<\/a>, including Consumer Proposals.<\/p>\r\n\r\n\r\n\r\n<ul class=\"wp-block-list\">\r\n<li>By the end of this conversation, you should have clear information about the next steps in the debt-free plan that you decide is right for you, and many people feel relief right away knowing that there is a way forward from the financial anxiety and debt-stress they have been feeling.<\/li>\r\n<\/ul>\r\n\r\n\r\n\r\n<p>You owe it to yourself to get debt help, and you\u2019re not alone in finding debt solutions \u2013 we\u2019re here to help you!<\/p>\r\n\r\n\r\n\r\n<p><strong>Connect with a non-judgmental BC Licensed Insolvency Trustee and get started with a debt-free plan that\u2019s right for you \u2013 book your free, confidential debt consultation today.<\/strong><\/p>\r\n\r\n\r\n\n<div class=\"cta-with-bg-image-content  white center no-bg-img\"   style=\" \">\n    <div class=\"gradient gradient-teal\" >\n        <div class=\"content\">\n            <h2>\n                <span>GET A FINANCIAL<\/span>\n                FRESH START            <\/h2>\n            <p>Book your free consultation with one of our experts and start living a debt-free life.<\/p>\n            <a href=\"\/free-debt-consultation\/\" class=\"red-btn\">\n                BOOK YOUR FREE CONSULTATION            <\/a>\n        <\/div>\n    <\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Managing debt with a Consumer Proposal can offer many benefits to people looking to successfully consolidate, cut, and pay off their debt. Read on to understand key pros and cons of consolidating debt with a Consumer Proposal, and other details to know if you\u2019re wondering if a Consumer Proposal is right for you. How Does [&hellip;]<\/p>\n","protected":false},"author":8,"featured_media":12030,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"content-type":"","footnotes":""},"categories":[257],"tags":[38,39,37,53,117,120,242,43,238,305,42,204,35],"class_list":["post-12029","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-consumer-proposals","tag-bankruptcy-bc","tag-bankruptcy-trustees","tag-consumer-proposals","tag-credit-card-debt","tag-credit-counselling","tag-credit-counsellor","tag-debt-advice","tag-debt-consolidation","tag-debt-help","tag-debt-relief","tag-debt-settlement","tag-licensed-insolvency-trustee","tag-sands-associates"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.3 (Yoast SEO v26.3) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Consumer Proposal Pros and Cons | Sands &amp; Associates BC<\/title>\n<meta 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