Filing for a consumer proposal for paying back debts is quite a feasible option. It is an agreement between a debtor and a creditor which allows the former to pay a part of what he/she owes and not the whole amount.
Toronto (PRWEB) January 24, 2017
EmpireOne, one of Canada’s emerging credit counselling companies, offers their clients debt relief by facilitating the process of filing for consumer proposal. Thoroughly understanding all the dynamics, EmpireOne counsels clients and ensures that they get proper representation in the proposal. The company’s solutions have helped protect many clients from declaring bankruptcy.
With offices in Scarborough, Toronto, North York and Mississauga, EmpireOne provides debt counselling in many cities around Canada. Over the years, the company has helped many clients get out of debt with reliable guidance. They are accredited with the Council of Better Business Bureau (BBB) which rigorously rates businesses on 13 factors.
Talking about consumer proposals in Canada, one of the representatives from EmpireOne commented, “Filing for a consumer proposal for paying back debts is quite a feasible option. It is an agreement between a debtor and a creditor which allows the former to pay a part of what he/she owes and not the whole amount. This amount will depend on the income and money owed. We at EmpireOne help people understand the changing dynamics to prepare them to make better financial decisions”
According to the Office of the Superintendent of Bankruptcy Canada (http://www.ic.gc.ca/eic/site/bsf-osb.nsf/eng/home) there were around 61,141 consumer proposals filed in the 12-month period between June 30, 2015 and July 30, 2016. This showed an incredible rise (9.4%) in proposal filings from the previous year. The reason for this is that a consumer proposal is a better alternative to bankruptcy. With consumer proposal, the debtors can not only stop legal threats by the creditor, but they can also be able to retain ownership of their belongings, such as houses and cars. The team of counsellors at EmpireOne can help with the process of filing for consumer proposal. Assessing the financial situations and eligibility criteria of debtors, they can help borrowers benefit from the consumer proposal plan. Their services also allow their clients to quickly recover from debt and start regaining a favourable credit rating.
Further elaborating on the consumer proposal plan, the representative added, “If a debtor qualifies for the consumer proposal plan, he/she does not need to worry about surplus income. Once an amount is set at the beginning, it will remain fixed and must be paid within 5 years. This can really help the financial standing of the debtor in future.”
EmpireOne also provides reliable bankruptcy advice and counselling to re-establish credit. The company acts as a mediator between the creditor and clients to ensure a reasonable solution for both parties.
About The Company
With its head office in Scarborough, EmpireOne offers its comprehensive credit counselling services to North York, Oshawa, and Mississauga. The company provides incredible debt repayment programs to clients, as well as initial free consultation, a debt calculator and other services. EmpireOne is widely recognized as one of the leading agencies in Canada as it’s registered with the OSB.
(Head Office): Scarborough 250 Consumers Rd. Suite 810, M2J 4V6
Toll Free: 1.800.901.4240
Regional Offices in Oshawa, North York, Mississauga