Posts tagged debt assitance
Understanding Consumer Proposals

A consumer proposal is a settlement arrangement with your unsecured creditors to pay a portion of your debt in monthly payment over a period of up to 5 years.  These payments are the full and final settlement of your debts with these creditors.

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Caught in the Pay Day Loan Cycle?

The problem with this type of borrowing is that it is very expensive and can often leave the borrower, who is already in a tight financial position, unable to repay the loan.  So they end up re-borrowing or getting a “roll-over” loan by paying off the current loan and immediately getting another one from the payday lender.

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