How Do I Qualify For A Consumer Proposal

1. How Do I Qualify for A Consumer Proposal You might be wondering how to get qualified for a consumer proposal when you've been battling with debt for a long time. Below, we’ll walk you through each step. Understanding consumer proposal If you have unsecured debts, consumer proposals play a role in paying all or some of your monthly loan payments, making it to a single settlement with a repayment time of over five years. All you need to do is file a consumer proposal, a formal agreement facilitated by LIT (Licensed Insolvency Trustee). A licensed insolvency trustee will examine your current financial situation to determine whether you qualify for a consumer proposal Toronto and submit your proposal to money lenders. Eligibility factors of a consumer proposal To be eligible to file a consumer proposal, your debt should be above $1,000 and should not exceed $250,000. The debt you console can also include income tax and business debts. Additionally, you must meet some other qualifications to get eligible to file a consumer proposal Toronto. To qualify for a consumer proposal, a person must be 18 years of age or older. The person should have a good credit score and maintain a good record of settlements on their previous loan payments. Moreover, you must be able to prove that you have a stable income to meet your monthly expenses, needs and loan repayment. Benefits of joint proposals In joint proposals, it is possible for more than one person to file a joint consumer proposal. On filing a joint consumer proposal, both the person will be guaranteeing the loan. In most cases, husband and wife simultaneously apply for a joint consumer proposal. And for the joint consumer proposal, you can get up to $500,000. The limit for a single person is $250,000

2. Additional resources The hardest part of obtaining a consumer proposal is making an appointment since you may feel despicable about it. DFCS guarantees you arrange a confidential meeting to discuss about your current financial standpoint. As a result of carefully examining the opportunities and challenges of your financial situation, the company files a consumer proposal to get you out of debt. With this, you can get back on your feet easily. DFCS offers debt solutions that allow their customers to gain control over their finances and pay their debts off faster. DFCS offers valuable debt solutions designed to get you out of debt permanently. Contact Elankeeran Than Debt Free credit solution 10 Milner, Business court, Suite 334 Toronto, ON M1B 3C6 416-834-7227 info@dfcs.today https://www.dfcstoday.ca/consumer-proposal/