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editor's blog

Importance of Getting a Discharge - Derek Chase

Making the decision to get protection from your creditors by way of a federally regulated consumer proposal or bankruptcy filing is a big step. The stated goal is to provide the honest but unfortunate person a fresh start with their finances.

In reality, that decision starts you on a pathway to a better place financially that must be walked day by day over a period of time. The end of that pathway is signified by a Certificate of Discharge in a bankruptcy filing or a Certificate of Full Performance in a consumer proposal.

Woman holding change

According to Federal Government statistics, consumer proposals continue to grow in popularity across the country as a practical way for an overburdened individual to obtain relief from unsecured creditors. In fact, the amount of consumer proposals filed on an annual basis has eclipsed the number of personal bankruptcies filed! Why would this be? What is so good about a consumer proposal? Let’s look at some of the top reasons, in no particular order: