After filing for a consumer proposal even with the best LIT, the situation might be such that your proposal might get rejected. Some of the leading LITs will painstakingly adjust your proposal in such a manner so that your creditors are bound to accept and negotiate with your consumer proposal. Kelowna is home to some leading LIT companies that will design and produce your proposals attractively. Let us look into some of the advantages of filing a consumer proposal in Kelowna.

Consumer Proposal Is Not As Same As Bankruptcy

Going bankrupt is one of the worst things that one can think of and experience. Though bankruptcy is a useful procedure but a completely different solution to pay off debts, consumer proposals are a different debt solution. However, both are significant ways to deal with your unsecured debts.

Early Pay Off

Unlike bankruptcy and other forms of debt settlement, a consumer proposal lets you pay off your debts even before time and clear your names off the list.

Shorter Effect On Credit Rating

Even though a consumer proposal hurts your credit rating like bankruptcy, once you pay off your debts, you can be cleared off the negative rating from your files.

Legally Bound

Unlike other debt settlement solutions, a consumer proposal is legally bound as you need to fulfil its terms and conditions as soon as you file for this.

Negotiated Agreement

After your LIT has accepted your consumer proposal, you can complete your payment at your ease according to your will.

Remains Unchanged

You need not pay anything extra other than whatever you have filed for. Once you finish paying your debts, you are exempted from any other lawsuits against your name.

To Conclude

Consult a trustee and begin recovering from debt today itself. Make sure you check the consumer proposal in Kelowna properly before deciding anything else.

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