Whether or not you should get a consumer proposal in Kelowna depends on your needs. It can be the best option for some people but there are times when it’s also not the best route to take. This is why there are Licensed Insolvency Trustees such as Mike Wright & Associates who can help you decide on this matter.

A consumer proposal in Kelowna can still affect your credit rating but not as much as bankruptcy would. One of the things that you should learn about it is that it reduces your debts to a fraction of the amount of the original debt so that it’s more manageable and it’s easier to handle. It’s not going to erase your debt completely – just smaller so it’s easier to pay off.

Being able to slash off your debt to something that you can handle and payable for about 5 years is a huge weight off of your shoulders. If paying for your debts is becoming more than you can take, this can be a sound option for you.

Just keep in mind that it’s not going to include all of your debts. This will only include your unsecured debts or debts that are not tied to a property like a house or a car so not all of your debts will be taken care of.

At the end of the day, go with what works better for you. The sooner you know more about your options, the faster you can start turning your life around.

To know more about Bankruptcy in Kamloops BC please visit our website: debtfreebc.ca