The Lump Sum Proposal:

Individuals may have a family member or have access to funds by cashing in an exempt life insurance policy or LIRA, etc., etc., that will allow then to make a one-time lump sum proposal payment to their creditors. You might say, “If I could make a lump sum payment, I would have paid my creditors!”

In a lump sum situation, you may not be able to assemble enough funds to pay your entire debt. This option allows you to make an offer which does not represent payment of your full debt, and you offer might equate to only 50%, 75%, etc., of the total when taken as a percentage of our debts.

We have considerable experience in dealing with creditors, and we specialize in tailoring Consumer  Proposals to fit an individual’s specific needs. We want to ensure that any payment plan you are committing to is not so onerous or difficult for you, that it leads to an inability to complete the proposal.

In order for any Consumer Proposal you consider to be successful, it should provide you with a little money left over for you to reward yourself once and a while, even it is just a little bit. One of our Licensed Insolvency Trustees would be happy to sit down with you and help you draft a proposal. So please do not hesitate to contact us.