Keep your assets and avoid personal bankruptcy with a consumer proposal administered by J.P. Graci & Associates Ltd. If you are insolvent and owe less than $250,000, excluding the mortgage of your principal residence, you are eligible for a consumer proposal.
Lower Your Payments or Reduce the Amount You Owe
A consumer proposal is a legal agreement made to modify your obligation to your creditors. Your arrangement might be to pay a lower monthly amount over a longer period of time or to reduce the total amount you owe. J.P. Graci & Associates Ltd. has the experience to find an arrangement that works best for you.
Stop Legal Action against You
Once the proposal is accepted, your creditors can no longer take legal steps against you to recover debt. A consumer proposal will impact your credit to a lesser degree than a personal bankruptcy.
Keep in mind that it only takes 50% of your creditors to accept the proposal for it to be approved at a meeting of creditors.
We invite you to use the valuable resources supplied by the Office of the Superintendent of Bankruptcy Canada.