CREDIT COUNSELLING SERVICE: FILING A SECOND CONSUMER PROPOSAL

Credit Counselling Service Filing A Second Consumer Proposal

 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.

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At Credit720, our goal is to protect your best self-interest and not the creditors. Debt Consolidation, Consumer Proposal - Calgary & Edmonton Region.

 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.

 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.

 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.

 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.

 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.

Contact Us Red Deer #924, 4747 67th St, Red Deer AB, T4N 6H3 Telephone: (403) 337-4000 Fax: (780) 666-9721 Email: info@credit720.ca

Edmonton North 203, 12930 50 St, Edmonton, AB T5A 4L2 Phone: 780.666.2600 Email: info@credit720.ca

Edmonton South 9856A 33 Ave NW, Edmonton AB T6N 1C6 Telephone: (780) 666-2600 Fax: (780) 666-9721 Email: info@credit720.ca

Lloydminster (Alberta & Saskatchewan) Unit 102, 4802 -50th Avenue, Lloydminster, AB T9V 0W5 Phone: 403.337.4000 & 780.666.2600 Email: info@credit720.ca

http://www.credit720.ca