Frequently Asked Questions (FAQs)

A consumer proposal is a legal agreement that helps reduce debt. It involves negotiating with creditors to pay only a portion of what’s owed, typically in affordable monthly payments, without losing assets like your home.

A consumer proposal helps reduce unsecured debts like credit cards, personal loans, and payday loans. It allows you to make affordable monthly payments while avoiding bankruptcy, providing a fresh start without losing assets.

Yes, consumer proposals are fully legal in Northwest Calgary. They are regulated by the Bankruptcy and Insolvency Act of Canada, offering a structured process to reduce and manage debt legally, without the need for bankruptcy.

Yes, a consumer proposal protects your assets. Unlike bankruptcy, you can keep your home, car, and personal property, ensuring you don’t lose your valuable possessions while reducing your debt.

A consumer proposal can initially impact your credit score, but it is generally less damaging than bankruptcy. Over time, once you complete the proposal, your credit score can improve as your debts are resolved.

Yes, a consumer proposal can include CRA tax debts. It helps you deal with tax arrears and other unsecured debts in one manageable repayment plan, offering a solution without resorting to bankruptcy.

A consumer proposal can reduce your unsecured debt by up to 70%, depending on your financial situation. You only pay what you can afford, which means significant savings compared to the full amount owed.

A consumer proposal covers unsecured debts like credit cards, payday loans, personal loans, and CRA tax debts. It doesn't cover secured debts like mortgages or car loans but can help with other types of financial burdens.

A consumer proposal typically lasts 3 to 5 years, depending on the agreed repayment terms. It gives you time to make manageable monthly payments while working towards being debt-free.

Yes, one of the benefits of a consumer proposal is that you can keep your home. As long as you maintain the agreed-upon payment plan, your assets, including your home, are protected.

BNA Debt Solutions offers a range of services, including consumer proposals, debt consolidation, credit counseling, and bankruptcy assistance. We provide tailored solutions to help you regain control over your finances and reduce debt.

BNA Debt Solutions has been helping Calgarians with debt relief for over 27 years. We’ve built a strong reputation for providing professional guidance and personalized financial solutions to individuals across Northwest Calgary.

The first step is scheduling a free consultation where we assess your financial situation. After that, we discuss options like consumer proposals or debt consolidation, helping you choose the best path toward becoming debt-free.

Yes, BNA Debt Solutions offers a free, no-obligation consultation to evaluate your debt situation. Our goal is to provide you with honest, clear guidance on how to resolve your debt and regain financial control.

Yes, BNA Debt Solutions can assist with debt consolidation. We help you combine your debts into one manageable monthly payment, potentially reducing interest rates and simplifying your debt repayment.

Once you file a consumer proposal or bankruptcy, creditors must stop all collection activities. BNA Debt Solutions works with you to ensure creditors stop calling, and wage garnishments are halted, giving you peace of mind.

At BNA Debt Solutions, we prioritize personalized, professional service. Our experienced team focuses on finding the most appropriate debt relief solution for each individual, ensuring you get the best possible outcome for your situation.

Yes, we offer customized solutions tailored to your unique financial situation. Whether it’s a consumer proposal, debt consolidation, or credit counseling, we design a plan that works for you.

Yes, all our professionals are Licensed Insolvency Trustees (LITs). We are fully regulated by the government to provide expert advice and legal support in debt relief matters like consumer proposals and bankruptcy.

BNA Debt Solutions provides financial education to help you manage money better. We offer advice on budgeting, saving, and credit, ensuring you stay debt-free and avoid future financial challenges.

BNA Debt Solutions helps you create a personalized consumer proposal by negotiating with creditors. We ensure the process is smooth, guiding you every step of the way until you achieve debt relief.

Yes, BNA Debt Solutions helps reduce unsecured debts through a consumer proposal. You can settle your debt for less than the full amount owed, making monthly payments affordable and stress-free.

We assist with every step of the consumer proposal process, from drafting the offer to filing it with your creditors. Our team ensures that the process is straightforward and tailored to your financial situation.

A consumer proposal with BNA Debt Solutions reduces your debt, protects your assets, and stops creditor harassment. You pay only what you can afford, making it a manageable and effective solution for debt relief.

Yes, one of the key benefits of a consumer proposal with BNA Debt Solutions is the protection of your assets, such as your home and car, while reducing unsecured debt. You can keep your possessions while becoming debt-free.