Debt Consolidation in London, Ontario

March 30, 2015

A Consumer Proposal is a ‘legally binding’ Debt Consolidation solution that can only be filed with a Licensed Trustee in Bankruptcy in Ontario. For example, you may have $40,000.00 in unsecured debt (credit cards, income tax debt, etc.) and the Consumer Proposal may offer $20,000.00 as a full settlement- without interest and including...

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March 24, 2015

There is a common misconception that income tax debts do Not get written off in a Consumer Proposal (i.e., a 'legal' debt settlement or consolidation). In fact, they ARE WRITTEN OFF, as they are considered an unsecured debt, as is HST owing for self-employed individuals. Of course, the same is true in a Bankruptcy as well; however, it is...

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