519-646-2222Division One Proposal
Division One Proposals are for Companies, as well as for individuals who owe more than $250,000 excluding a mortgage on a principal residence.
Voting Scheme
The Voting Scheme in a Division One Proposal is different from that of a Consumer Proposal. A Division One Proposal requires that 2/3rds in dollar value, and a majority in number of Creditors vote in favour of the proposal in order for the proposal to be approved by the Creditors. It must also be approved by the Bankruptcy Court.
Payment Options
There are a variety of payment options that can be worked into a Division Proposal, from a single Lump Sum payment through regular monthly payments, graduated monthly payments, seasonally adjusted payments and combination payments.
Peace of Mind
After your proposal has been approved, and you can see a final resolution in plain sight – you will experience a tremendous stress relief and peace of mind, knowing that you can finally put debt problems behind you.
Financial Recovery
After you have completed your proposal you will be suprised at how quickly your financial situation will improve and you will experience a complete financial recovery.
Real Life Situation
A former client was completely stressed out by collection calls and the inability to earn enough money to pay down creditors, each month the debt would grow and paycheques would shrink as more money was being used to service debt. After the proposal was approved there was a feeling of immediate relief, as the client could afford groceries and necessities of life for the first time after years of struggling to make minimum monthly payments.
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How to Start?
Call the office for your FREE consultation.
From the very first meeting we are trying to find the right solution for you and your family, we will follow through and help you every step of the way to financial health and a balanced budget.