Consumer Proposal Hamilton
Table of Contents
The Best Consumer Proposal & Bankruptcy Filing Services In Hamilton
If you live in Hamilton, Ontario and you are going through a difficult financial moment, then Remolino Associates can assist you. We have helped thousands of sincere, hardworking individuals to reduce and pay off all their outstanding loans. Some of the loan repayment solutions provided in our Hamilton debt relief premises are:
- Preparation of consumer proposal
- Assisting customers with personal bankruptcy
- Loan Counselling
- Loan consolidation
- Loan Settlement
Preparation Of Consumer Proposals In Hamilton
A consumer proposal refers to a legitimate loan relief solution enacted with the federal government to consolidate and eliminate your loan much more cheaply.
The 10 major benefits of consumer proposal include:
- Retiring up to 80% of the client’s loans
- Put a stop to the incessant collection calls
- Avert recovery of wages
- Services to unfreeze money in your bank account
- Legally binding a client’s relationships with unsecured lenders
- Handling of CRA and payday loan corporations
- Preserving a client’s assets such as tax refunds
- Lowering the client’s monthly payment by renegotiating some deals
- The clients does not pay interest on the monthly loan repayments
- Helps the client to avoid bankruptcy
The consumer proposals we prepare and file have a success rate of 99%. We work closely with the client to come up with an affordable offer.
The client also gets to know the cost of the consumer proposal before the work begins. The client pays an amount based on the repayment negotiated with the client’s creditors at the start of the preparation process of the consumer proposal.
Once the client has completed the payment according to the terms of the proposal, the client’s loans will be eradicated.
Clients must rely on the services of a Licensed Insolvency Trustee such as Remolino Associates to prepare and submit a consumer proposal.
We recommend that you master how to file a consumer proposal or simply get in touch with our Hamilton experts who will provide the guidance you need to get yourself out of debt and escape bankruptcy.
Comparison Between Debt Consolidation And Consumer Proposal
If you are dealing with a huge credit card debt, tax arrears, or other unsecured loans, you are likely asking yourself if a loan consolidation debt, home equity loan, or second mortgage is the ideal way of joining your loans.
Amalgamation with a debt consolidation loan comes with its own risks. For instance, the client may own enough equity but fail to qualify for a second mortgage at an affordable rate.
Our Hamilton loan experts will assist you to evaluate your debt reorganization alternatives. In addition, they will help you compare the benefits and drawbacks of taking a new debt or second mortgage by providing a debt settlement offer to your lenders via a consumer proposal.
Completing Personal Bankruptcy In Hamilton
It is best to treat personal bankruptcy as the last option for the client. However, it is sometimes the best solution to help a client to bounce back from debt. Our experts will discuss with you to determine if filing for bankruptcy is the ideal move to get rid of your outstanding loans.
Regardless of your debt burden, it is best to keep in mind the various loan relief options available to you. Working with Remolino guarantee that you will work with professional only. We offer free consultancy services and flexible booking times for our clients. Send us an email or call our Hamilton professionals today at 1-416-792-5599 and let us serve you.
Only a Licensed Insolvency Trustee is legally mandated to file a bankruptcy and consumer proposal. Our services are certified by the federal government to assist you to manage your debt levels.
Hamilton Debt Assistance
It is impossible for loan issues to solve themselves. This means, if you cannot repay your loans by yourself, it is best to call a Licensed Insolvency Trustee to assist you figure out the best way to eliminate the debt.
Free Yourself From Credit Card Debt
You will require an extended period to pay all your credit card debts if you are only remitting a small amount each time. Our goal is to help you consolidate your debt payments and prepare a settlement offer to reduce your credit card debt by up to 70%. Here, the credit card debts are combined to form a single reduced monthly payment.
Note: the consolidated loan is not a new loan product; rather, it is a federal-certified debt settlement plan with a payment duration of up to five years and no interest.
Discontinue Your Payday Loan Cycle
The interest rate on payday loans increases faster than the repayment rate, which puts plenty of financial pressure on the client. With time, the interest expense erodes the client’s income at the paycheque. If the client falls behind on their payment, the payday creditors result to aggressive methods to collect their money, including getting in touch with their employer or recovering their wages.
Our service programs include payday loan solutions to unshackle the client from the tough payday loan cycle.
The Importance Of Consulting A Licensed Insolvency Trustee?
Working with a Licensed Insolvency Trustee offers the best way of handling your debt burdens and has helped thousands of clients with challenging debt repayment plans. Our financial services are recognized by the Canadian Government to help potential clients with debt management or elimination. Our professional objective is to assist clients to free themselves from debt.
Debt Repayment & Consumer Proposal Calculator
Our debt calculator provides a comparison of what your monthly debt repayment might look like under different debt relief options including a debt consolidation loan, debt management plan and consumer proposal. Actual results may vary as each situation is unique. Your actual payments will be based on your income, assets and debts but this calculator provides a comparison of the potential savings of each option.
Simply enter your total unsecured debt, including credit card debt, bank loans, lines of credit, payday loans and tax debts. Do not include mortgage or secured car loans.
Enter Your Total Unsecured Debt
To Eliminate Your Debt
|Monthly Payment (approximate)
Over 5 Years
Over 5 Years
Over 5 Years
Settlement For Less Than Principal debt amount
No Negotiate principal reduction
With on going applied interest cost
Repay Debt on Your Own
Monthly payment with on going interest cost
Options To Eliminate Your Debt
Consumer ProposalSettlement For Less Than Principal debt amount Monthly Payments
Credit CounsellingNo Negotiate principal reductionMonthly Payments
Debt ConsolidationWith on going applied interest costMonthly Payments
Repay Debt on Your OwnMonthly payment with on going interest costMonthly Payments
Consumer Proposal FAQs
Yes, a consumer proposal will stop collection calls, wage garnishments, and all other actions carried out by collection agencies. Consumer proposals are legal proceedings under the Bankruptcy and Insolvency Act.
You will gain protection from debt collectors immediately after your LIT files your signed proposal documents with the OSB.
Yes, you can. While you won’t be able to change the total sum of your payments because that’s negotiated between you and your creditors before you start your payments, you can pay off your proposal early to begin your financial recovery process.
Yes, you have some duties. During a consumer proposal, you have to make all the required payments and attend two credit counselling sessions.
Unlike filing for bankruptcy, you don’t have to report your income and expenses when you file a consumer proposal, and you won’t lose any assets.
You are allowed to defer up to two payments if you can’t afford them, but your proposal will be ‘deemed to be annulled’ if you fail to make three payments. If this happens, your debts are immediately reinstated and you lose your creditor protection.
Yes, it can. Your unsecured tax debts can be included in your proposal and CRA is limited by the terms of the accepted proposal.
- Consumer Proposal Toronto
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