Whitby & Oshawa Consumer Proposal from a Licensed Insolvency Trustee


Residents of Whitby and Durham can use an Oshawa consumer proposal from a Licensed Insolvency Trustee as a means of solving their debt troubles. The Bankruptcy & Insolvency Act states two ways, the first is personal bankruptcy and the second is a proposal.

What Does a Consumer Proposal Entail? A proposal is an agreement negotiated with creditors through an accredited Licensed Insolvency Trustee in Oshawa and also approved by the court. A proposal is a legal agreement that grants you certain protections from loan providers and also debt collection companies.

It really is a repayment structure based on your (the debtor’s) current finances and earnings. It could be the sum of all the money you owe or merely a percentage of the outstanding debt. Paying it back is often in a lump sum or paid through regular monthly repayments.

Applying for a proposal is not a guarantee as all proposals must be accepted by the majority of lenders and recognized by the court.

A few of these protections from creditors include:

  • Salary Garnishments Stop Immediately
  • Interest charges No Longer Accumulate
  • Loan providers as well as Collection Firms will No Longer Call You

Features of A Consumer Proposal

Assets like your house, for example, will not be at risk as they are not part of a consumer proposal. The moment your proposal is accepted, your payments remain the same regardless of any increase to your salary. You will never need to pay more than the amount stated in the proposal. The unfavorable effect on your credit rating is lower than that of a personal bankruptcy.

There are plenty of positive aspects for you and your creditors to select a consumer proposal instead of filing for bankruptcy in Oshawa.

We offer a free consultation meeting and a phone call to our office will be one of the most stress alleviating phone calls you will ever make.

With Richard Killen & Associates, our Oshawa Licensed Insolvency Trustee will be able to examine all of the alternatives you can utilize and provide you with the professional advice you need to help you select the very best strategy to decrease your financial stress.

Consumer Proposals & Debt Relief in Oshawa, Whitby, Clarington & Bowmanville

Call us to schedule a free consultation at 1-888-545-5365. Our business offices are located at 146 Simcoe St. North, Oshawa, Ontario, L1G 4S7. There are complimentary vehicle parking spaces.

We provide debt relief solutions to residents of Durham including Oshawa, Whitby, Clarington, Bowmanville, and Courtice Ontario.

Stop the sleepless nights. A call to our office will probably be the best stress alleviating call you will ever make.

To learn more about consumer proposals in Oshawa and how our Licensed Insolvency Trustee will be able to help alleviate your debt stress, please contact our Oshawa office today at 1-888-545-5365.

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“Serving Toronto & the GTA for over 25 years.”



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    About Richard Killen & Associates

    Since 1992, Richard Killen & Associates, a Licensed Insolvency Trustee, have helped thousands of people resolve their financial problems. With 25 years experience in this industry, our president, Richard Killen, and the rest of our team understand the difficulties that honest people can sometimes find themselves in. This expertise makes it possible to provide you with a service that effectively deals with the issues.

    Serving the GTA for 25 years