Consumer Proposal & Bankruptcy Services in
North Bay, Ontario
We Can Reduce Your Debts by up to 80%
One affordable monthly payment for all of your debts
Debts Included
Credit cards​
Payday loans
Lines of credit
Tax debts
Student loans
Collections
Garnishments
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We Can Help
0% Interest
Reduce debts up to 80%
One monthly payment
Stop collection calls and letters
Keep your assets
Stop lawsuits
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Choose the Right Licensed Insolvency Trustee -
North Bay
At Litvack Group, we understand that debt can be overwhelming and stressful. We are here to provide you with the tools and solutions you need to move forward. We can provide you with a tailored solution to your debt problems. We will take the time to explain everything to you and always be available to answer all your questions.
We will help you understand your options and create a plan to get out of debt. With our expertise, we can help you find the best way to take control of your finances and achieve financial freedom.
North Bay, Ontario
North Bay is nestled on the shores of Lake Nipissing, is a picturesque city known for its natural beauty, outdoor recreational opportunities, and historic landmarks. One of its most prominent landmarks is the majestic Chief Commanda II, a historic steamship that offers scenic cruises along Lake Nipissing during the summer months. The Laurentian Ski Hill, located just minutes from downtown, provides excellent skiing and snowboarding in the winter, while the Duchesnay Falls Trails offer picturesque hiking trails and stunning waterfall views year-round. The North Bay Museum showcases the region's history and heritage through its exhibits and artifacts, while the Capitol Centre hosts a variety of cultural events, concerts, and performances throughout the year. With its blend of natural landscapes, cultural attractions, and recreational activities, North Bay offers residents and visitors alike a vibrant and welcoming community to explore and enjoy.
Consumer Proposals in
North Bay
Consumer proposals are a great alternative to bankruptcy. In a consumer proposal, you can keep your assets and make one monthly payment for your debts. Our team will negotiate with your creditors and develop a manageable payment plan.
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Once you start a consumer proposal, you will have a single, fixed monthly payment to make to your creditors for a term of up to five years. Our experienced team is here to help you through the process and get you closer to a debt-free life.
How to Get Started
Fill out our Form
Fill out our form and we will contact you to schedule a free consultation
Free Consultation
We will review your financial situation and explore your options
Get Started
If you decide to proceed, we will guide you through all the steps to get started
Customer Reviews
FAQs
How Much Does it Cost? In a consumer proposal you agree to make payments usually monthly to the Licensed Insolvency Trustee for your creditors. The Licensed Insolvency Trustee's fees come from your monthly payments, so there are no extra charges. The cost to file a consumer proposal includes a government filing fee of approximately $100, plus the Licensed Insolvency Trustee’s fees as the consumer proposal administrator. These fees are set by a tariff pursuant to the Bankruptcy & Insolvency Act and are the same for all Licensed Insolvency Trustees in Canada.
How Much Debt Can You Reduce With a Consumer Proposal? Depending on your financial situation, you can reduce your unsecured debts by up to 80%. Creditors will look at your assets, income, liabilities, budget and whether you have filed for bankruptcy before to determine whether they will accept your consumer proposal. You will still be responsible for paying your secured creditors such as for a car loan. Generally, creditors will accept a consumer proposal if they will receive more money than if you file for bankruptcy. Therefore, the Licensed Insolvency Trustee will assist you in determining an amount that your creditors are likely to accept. In a consumer proposal you agree to make payments usually monthly to the Licensed Insolvency Trustee for your creditors. The Licensed Insolvency Trustee's fees come from your monthly payments, so there are no extra charges. The cost to file a consumer proposal includes a government filing fee of approximately $100, plus the Licensed Insolvency Trustee’s fees as the consumer proposal administrator. These fees are set by a tariff pursuant to the Bankruptcy & Insolvency Act and are the same for all Licensed Insolvency Trustees in Canada.
What is the Difference Between Consumer Proposal and Debt Consolidation Loan? If you were to obtain debt relief by consolidating your debts with a debt consolidation loan, you will still be charged interest, but likely at a lower interest. This means more of your monthly payments will go toward the principal and less toward interest. Consumer proposals, unlike a debt consolidation loan, will stop all interest and allow you to make a fixed monthly payment for all unsecured debts for up to 5 years. A consumer proposal can also reduce your total debts owing.
How to File a Consumer Proposal To start the consumer proposal process, you should first speak with a Licensed Insolvency Trustee. They will review your financial situation and see if bankruptcy or consumer proposal, or another option would be best for obtaining debt relief. They will then walk you through the process by requesting you provide certain documents to review and prepare forms for you to sign to start your consumer proposal.