Two very popular debt reduction programs available to Canadians include a debt management plan and a consumer proposal. While both involve negotiation with your creditors with the assistance of a third party (a trustee in the case of a consumer proposal and an accredited credit counselling agency for a debt management plan), a consumer proposal can provide more relief in terms of lower monthly payments in most situations. To help you compare the potential cost…
Earlier in the week I had a couple come into my office for a free consultation here in Barrie Ontario, their names were John and Melissa (not their real names of course). They explained to me that John had been out of work for a year and a half due after cut backs at work. Over the year and a half John was collecting EI and Melissa was working as a RN at the hospital….