A consumer proposal can be an alternative to people considering bankruptcy. Many people are still looking for ways to get out of their debts without it having a significant impact on their credit record and a consumer proposal in Kelowna.

Here are the reasons why you should consider getting a consumer proposal in Kelowna instead:

1. It allows you to negotiate your debts.

Through a consumer proposal, you can negotiate the amount you pay from your original debt. Usually, it’s much lower than what you owe and the payments can be divided into 5 years, making it much easier to pay off.

2. It stops wage garnishments.

You are no longer going to be harassed by your creditors. You can stop worrying about your creditors showing up at your doorstep or calling you all the time. You can also stop them from taking a portion of your wage.

3. It allows you to keep your assets

Are you worried that you will lose your assets such as your home or your car? Once your consumer proposal is approved, you can then rest easy knowing that they won’t be able to touch your most important assets.

What is great about a consumer proposal is that you don’t have to pay additional fees or worry about interest rates in the next few years that you will pay for the remainder of your debt.

Just make sure you get the help of a licensed insolvency trustee when it comes to getting a consumer proposal. You can turn to Mike Wright & Associates for help.

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