77 - Consumer Proposals: Why Is It a Good Option for Some Debtors?

Canadians’ confidence in their personal finances and ability to repay their debt has hit a record low. As inflation continues to rise, many are pulling out their credit cards and living on borrowed cash. If your unsecured debt has also hit record highs and is becoming unmanageable, you are probably investigating your options. In today's podcast, Licensed Insolvency Trustee, Glenn Steiner explains how and when a Consumer Proposal may be the best way to tackle your debt. Here is just a few of the questions answered:What is the process involved in filing a Consumer Proposal?Can tax debt be included in the proposal?What kind of debt cannot be included?What happens if your income increases or you receive an inheritance?Can you pay off the Consumer Proposal quicker?If you are losing sleep over your finances the first port of call should be a consultation with a Licensed Insolvency Trustee. They are licensed by the federal government to provide debt advice and are the only professionals that can file a Bankruptcy or a Consumer Proposal. About Glenn SteinerGlenn received his Trustee license in 1998, working in various departments in the public service for 30 years. Since 2011 he has been working in the private sector in Alberta as a Licensed Insolvency Trustee. Born and raised in Saskatchewan, Glen has a passion for helping people. He walks them through the various financial options, allowing them to make life changes that can give them a fresh start. Additional Resources Allan Marshall & Associates Licensed Insolvency TrusteeConsumer Proposals in CanadaDebt Consumer Proposal: What Types of Debt Can It Pay Off?