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Tag: Define what a consumer proposal is

<strong>A Comprehensive Guide To Budgeting During A Consumer Proposal</strong>

A Comprehensive Guide To Budgeting During A Consumer Proposal

Finance
If you're considering a consumer proposal, your budget is one of the most important things to consider. This comprehensive guide will cover everything you need to know about budgeting during a consumer proposal. From creating a budget to sticking to it, we'll ensure you prepare for every step of the process. Let's get started! Define what a consumer proposal is: A consumer proposal is a legal agreement between a debtor and their creditors that can provide a way to become debt free while avoiding bankruptcy. It is made under the Bankruptcy and Insolvency Act and puts an end to collection calls and late fees by offering a lump sum payment of your debts or lowering them to more manageable amounts. This can be beneficial in that all unsecured debts get consolidated into one monthly ...