Division 1 Proposal is considered to be a commercial type of Consumer Proposal. It is a procedure that can be followed by businesses as well as individuals. The major difference between Division 1 and regular proposal is a debt amount threshold. When filing a regular Consumer Proposal up to $ 250,000 can be settled. When filing [...]
A Debt Consolidation Loan is a loan that is granted to pay off all your existing debt, allowing for one monthly payment, usually with a lower interest rate. With less money being spent on interest, the single monthly payment makes it easier for you to pay off your debts in a shorter amount of time. [...]
This glossary will provide definitions for terms that are often used in the debt management field. We hope that these definitions will clarify some of the uncertainties that you might have in relation to debt resolutions. Bankruptcy: The state of being bankrupt or the fact of becoming bankrupt. Bankrupt: A natural person or corporation who has made a voluntary [...]
