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 | Government Licensed Debt Repayment Agency in the Province of AB.
Offering a full range of debt solutions to residents of the Calgary area.
Call Today for Free, No Obligation Advice. 1-800-961-7816 or (403) 648-9152. |
| The Consumer Proposal Process
Below explains the basic steps involved in a Consumer Proposal. The actual process varies depending upon your personal circumstances.
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How does a Consumer Proposal work?
A Consumer Proposal begins when you contact Debtors Advocates. We will meet/speak with you to discuss your financial situation, assess your debt, and advise on the best options available to you.
What are the major steps in a Consumer Proposal?
The major steps in a consumer proposal:
 | Meet with us to review your financial position and receive counseling prior to filing a proposal. Counseling ensures that a consumer proposal is the right course of action. |  | We prepare the proposal, which we present to the Trustee, who files with the Official Receiver. |  | Attend a meeting of creditors, if requested by the Official Receiver or at least 25% in dollar amount of your creditors. |  | Make payments to the Trustee or Administrator, who distributes funds to the creditors. |
If the proposal is not accepted, or if you default on the proposal, there is no automatic bankruptcy, but all creditors are then allowed to take action against you.
Please note: We are not Bankruptcy Trustees. If after your assessment, Bankruptcy or Consumer Proposal is a chosen option, this will be administered by a Licensed Bankruptcy Trustee, not by Debtors Advocates (7100621 Canada Inc).
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