At EmpireOne, our certified counsellors will review your financial situation and work with you to resolve your credit issues.
If you owe less than $250,000, other than the mortgage and charges against the principal residence, there exists an affordable monthly payment plan, which is completely interest free. The proposal immediately stops all collection proceedings and legal action by your creditors, including lawsuits, asset repossession and wage garnishment. This will improve your household budget.
You keep all your assets such as your house and/or vehicle while the consumer proposal is being performed.
If you own a financed or leased vehicle, you can keep the vehicle. The proposal does not address this type of debt because it is a secured debt, (there exists collateral security that covers this debt). Another major category of assets that is not subject to the proposal is your principal residence. A house or condominium is burdened by a mortgage or a total equity line of credit and there may be other liens against it, such as property tax arrears and property management fees that are once again beyond the scope of the proposal.
You can carry on your business activities if you are self-employed while you are undergoing a proposal.
If you decide to quit your business venture and you want to end all business activity at the time of filing the proposal, you can include all reasonable debt you incurred in your sole proprietorship in the proposal.
Your credit rating will be restored three years after the fulfillment of a proposal. The reference to the proposal will be expunged from your personal credit history after 3 years have passed since your obtaining a Certificate of Full Performance.
Is Declaring Bankruptcy the only solution to Your Debt Issues?
Dealing with debt might prove troublesome for majority of people undergoing debt crisis. Without proper consumer debt counselling, they are unaware of countless effective debt solutions like debt consolidation. Most would just simply declare bankruptcy to deal with debt settlement issue, but fail to acknowledge that bankruptcy brings serious consequences. Allow our expert counsellors at EmpireOne to guide you through the process with professional advice and suggestions.
Are you drowning in debt – so much that you are living from paycheck to paycheck? Or are unable to pay bills on time? Dealing with debt alone is difficult.
Take help from EmpireOne’s comprehensive debt settlement and solutions that will help you out from this situation.
EmpireOne offers some of the best debt handling solutions such as debt consolidation and counselling. We offer unrivalled debt consolidation services that make dealing with debt, a lot easier and simpler.