Consumer Proposal vs Bankruptcy: Key Differences Explained
When it comes to resolving overwhelming debt, the consumer proposal vs bankruptcy debate often arises. A consumer proposal is an agreement between the debtor and creditors to pay back a portion of the debt, usually over three to five years, with the remainder forgiven. In contrast, bankruptcy involves the complete discharge of debts, often requiring the liquidation of assets and the surrender of non-exempt property. While both options help individuals escape from crushing financial burdens, a consumer proposal offers a more structured and less damaging approach to debt relief.
https://bankruptcycanada.com/b....ankruptcy-vs-consume
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