Consumer Proposal or Bankruptcy

What are the differences between a Consumer Proposal and Bankruptcy?

A Consumer Proposal tells your creditors that even though you cannot afford to pay all of your debt, you can pay a portion of it. The creditors then vote on your offer. A Consumer Proposal can spread payments over a maximum of 5 years, interest-free.

Bankruptcy allows you to advise your creditors that you cannot afford to pay even a portion of your debts. The creditors do not vote. For those without assets* or with a limited income, Bankruptcy is generally faster and less costly than a Consumer Proposal.

*In most cases, Bankruptcy does not affect a person’s house or car. Talk to us for more information.

Schedule a FREE Consultation

If you have any questions or would like to chat with us about our Consumer Proposal solutions, then simply contact us by clicking below.

I have been referring my clients to Carl and Jordan Rumanek for more than ten years and I am proud to know them and respect very much their values and the services they provide. There are no bad questions with Rumanek and Company - and they work hard to find a balanced solution that benefits both the creditors and the debtor. Jordan has taught me a great deal about the insolvency business!

I am so grateful to Jordan Rumanek for the time and effort he put in to solving my bankruptcy problem. He worked well with me and my lawyer, recognized the problem and had a solution, and communicated promptly. Things were settled in a very timely manner. I would highly recommend him!

Jordan of Rumanek & Company Ltd helped me through my default and had my bankruptcy discharged extremely quickly. The staff were knowledgeable and were beyond accommodating to my needs. I applaud all of the staff at Rumanek & Company and the way they go above and beyond to help their clients.

Jordan Rumanek of Rumanek & Company Ltd has helped me through a difficult time in my life. The staff have gone beyond the call of duty. I appreciate all the staff at Rumanek & Company and the way they treat me. I would recommend them to anyone with financial problems.

Jordan and his team took extremely good care of me from start to finish. They explained everything with great detail and dealt with everything in an efficient and professional manner. I would highly recommend them should you ever need assistance with a consumer proposal or bankruptcy.

What are the differences between a Consumer Proposal and Bankruptcy?

Schedule a FREE Consultation

Let's Get Started

Get Started Now

Schedule Your