CREDIT COUNSELLING SERVICE: FILING A SECOND CONSUMER PROPOSAL - PowerPoint PPT Presentation

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CREDIT COUNSELLING SERVICE: FILING A SECOND CONSUMER PROPOSAL

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Title: CREDIT COUNSELLING SERVICE: FILING A SECOND CONSUMER PROPOSAL


1
Credit Counselling Service Filing A Second
Consumer Proposal
2
  • About Us
  • We at Credit 720 work for you in a similar way
    just as your Tax Consultant or Accountant. You
    hire our expert advice in debt negotiations as we
    help protecting your assets and safeguarding your
    rights as our esteemed client.
  • At Credit720, our goal is to protect your best
    self-interest and not the creditors. Debt
    Consolidation, Consumer Proposal - Calgary
    Edmonton Region.

3
  • Credit Counselling Service Filing A Second
    Consumer Proposal
  • All the credit counsellors consider Consumer
    proposals as the safest route to become debt
    free. Thus, if in the past, you had to face
    stressful debt situations and used the consumer
    proposal as a medium to get debt relief, you can
    again go for it years later in case you face a
    similar situation. In this guide, we have covered
    all the points that actually help in filing a
    repeat consumer proposal service in different
    parts of Canada, be it, Calgary, Edmonton,
    Alberta or Lloydminster and the procedure ahead.

4
  • Steps to File A Second Consumer Proposal
  • Looking at the advantages of consumer proposal,
    anyone can file a second or any number of
    consumer proposals in the same way as they file
    the first one! So, keep reading on further to
    know the exact steps for filling a second
    consumer proposal easily.

5
  • Steps to File A Second Consumer Proposal
  1. Firstly, you have to start working with a LIT or
    Licensed Insolvency Trustee. He is the one to
    analyze the budget and evaluate the amount for
    creditor repayment.
  2. Then, the LIT will share the proposal with the
    creditors for acceptance.
  3. If most creditors accept the terms, then the
    proposal will bind on all the creditors. However,
    it must be noted that no one can file for 2
    consumer proposals at one time. It means that
    once the filing of first consumer proposal is
    complete, only then, the second one can be filed.

6
  • Special Situations to Consider
  1. In case if you miss 3 payments of consumer
    proposal, it is annulled and then, filing for a
    new one is not possible. At such time, you can
    just revive this annulled proposal within 30 days
    or visit court if the number of days are more
    than that.
  2. If you incur a new debt while you are repaying
    via the current proposal, you are neither allowed
    to file any other consumer proposal nor add the
    added debt in the current proposal. All you can
    do is both go for amending or collapsing the
    proposal and then, go for insolvency as per your
    financial situation.

7
  • Some Last Words
  • With this, you must be aware of all the pointers
    that you must keep in mind while applying for a
    second consumer proposal service. Contact
    Credit720 to get the best help and consultation
    regarding different credit counseling services
    and understand the impact of going for a second
    consumer proposal in no time.

8
Contact Us
Red Deer 924, 4747 67th St,Red Deer AB, T4N
6H3Telephone (403) 337-4000Fax (780)
666-9721Email info_at_credit720.ca Edmonton
South 9856A 33 Ave NW, Edmonton AB T6N
1C6 Telephone (780) 666-2600 Fax (780)
666-9721 Email info_at_credit720.ca
Edmonton North 203, 12930 50 St, Edmonton, AB T5A
4L2 Phone 780.666.2600 Email info_at_credit720.ca
Lloydminster(Alberta Saskatchewan) Unit 102,
4802 -50th Avenue, Lloydminster, AB T9V
0W5 Phone 403.337.4000 780.666.2600 Email
info_at_credit720.ca
http//www.credit720.ca
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