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A.JB Solutions

Phone: 514 313-6033
Toll-free: 1-866-481-3136
Email: josee@ajbsolutions.ca

Consumer Proposal Montreal

Consumer Proposal in Montreal and Surrounding Areas

Reduce your debts and pay only a monthly amount based on your budget, with no interest!

A consumer proposal is a legal solution that can help reduce your debts and restore better financial balance. It allows you to repay a portion of your debts according to your financial capacity through a single monthly payment, generally without interest.

In Montreal and in several cities in the region, A.J.B – Josée Brouillette offers an informational meeting to help you better understand this solution and evaluate whether it may be suitable for your situation.

Contact us at (514) 313-6033 to obtain information and schedule a meeting.

A.J.B – Josée Brouillette is not a Licensed Insolvency Trustee. Consumer proposals are filed and administered by a Licensed Insolvency Trustee.

Do you not speak French, English, or Spanish? That is not a problem. A translation service can be provided upon request. For people who are hard of hearing, a sign language interpreter may also be available.



What is a consumer proposal?

This debt solution is increasingly used. Introduced in 1992 by the federal government, a consumer proposal is an official agreement between you and your creditors that allows you to settle your debts for less than what you owe. All debts are combined into one monthly payment based on your budget, and this payment is interest-free. The total repayment must be made over a maximum of 5 years.

Consumer Proposal Montreal

Why choose a consumer proposal?

A consumer proposal is a good choice for you if:
You are able to repay at least part of your debts;
You have previously declared bankruptcy and want to avoid the disadvantages of a second bankruptcy;
You have assets worth more than the amount owed to your secured creditors;
You want to avoid bankruptcy for reasons beyond financial concerns;
You are a professional or hold a license and don't want to be affected by a bankruptcy.

Advantages of a consumer proposal

One payment and no interest: Debts are consolidated into a single monthly payment based on your budget and it’s interest-free. Repayment can be spread over a 5-year period, but if your budget allows, you can pay larger amounts at any time to complete the proposal faster.
Included debts: Credit cards, personal loans, credit lines, overdrafts, tax balances (TPS and TVQ), student loans, unpaid Hydro bills, overdue rent, old bills, etc.
Suspension of procedures: Once the consumer proposal is filed, wage and bank account garnishments will be suspended. Your electricity provider will be required to reconnect your service. Any legal mortgages creditors have on your assets will also be suspended (except legal mortgages by the government). Collection agencies must stop harassment and collection actions.
Asset protection: In addition to being protected from legal action, you can keep all your assets (house, car, RRSP, and inheritance). If you decide to give up an asset to your creditors because it’s too expensive, any loss suffered by the creditor will be included in the proposal.
A consumer proposal helps you avoid the consequences of bankruptcy and can help you rebuild your credit score more quickly. Creditors usually appreciate that you are making an effort to repay part of your debt rather than declaring bankruptcy, which means your credit score will be less impacted compared to bankruptcy.
Consumer Proposal Montreal

Disadvantages of a consumer proposal

The disadvantages of a consumer proposal are far fewer than the advantages.

You will be released from all your debts, except those specified in Section 178 of Law C-12:

Fines and penalties imposed by a court, including traffic tickets and others;

Compensation awarded in court for bodily harm caused intentionally;

Debts or obligations for child support;

Debts or obligations resulting from fraud, embezzlement, or breach of trust while acting as a trustee;

Debts resulting from obtaining goods or services through false representations;

Student loans (if the proposal is filed within 7 years of finishing your studies, the loan must be fully repaid. After 7 years, the debt can be discharged). At the end of the proposal, you can make an agreement to repay the remaining balance on your student loan.

Consumer Proposal Montréal

The consumer proposal will appear on your credit report.

However, in recent years, credit agencies and banks have been much less strict regarding consumer proposals. Even though the proposal remains on your report for three years following your release, with sufficient income and a good credit score, you will be able to apply for credit again relatively quickly.
It’s essential to work on rebuilding your credit score while paying off your proposal. A free consultation at our offices is highly recommended to get advice on this matter and help you start fresh.
You must keep up with your payments and not miss any, because with three missed payments, your proposal will be annulled. The consequences of a canceled consumer proposal can be severe, as you will no longer have protection from your creditors, and they may take action against you.

Contact us

To obtain additional information about debt solutions, including a consumer proposal, in Montreal, schedule a meeting at our offices. We also have other offices in the region.
Our attentive and friendly approach is designed to help you better understand your financial situation and the options that may be available to you. When appropriate, we can refer you to a Licensed Insolvency Trustee who can analyze your situation and explain the possible steps.
Contact us for a free, no-obligation consultation at (514) 313-6033 .
Note: Children are welcome during our meeting. We will offer them small surprises and candies, and they will be able to draw.

A.JB offers you the most
affordable option
for your financial problems.

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