Further to the last blog, if your debts prove unmanageable even with a comprehensive budget, you may need additional assistance. We can help. A Consumer Proposal may be the right tool to assist you in controlling and managing your burdensome debt. Many people confuse a Consumer Proposal with bankruptcy. While both debt options are regulated by the same law, these options are very different. A Consumer Proposal is similar to a consolidation loan repaying your unsecured debt, or a portion thereof, in a protective environment. No interest is allowed and creditors are not allowed harassing you or garnishing income. You are protected, by law. These are the only options that provide this level of protection.  Further, a Consumer Proposal allows you to protect an asset that may otherwise be subject to seizure. Consumer Proposals are regulated by federal law and can only be administered in Ontario by a licensed Trustee – an individual recognized and licensed by the federal government who acts in the capacity of Court Officer! A Consumer Proposal is a very effective and persuasive debt management tool. A solid budget helps even in the context of overwhelming debt.