Auto Loan ~ Car Loan while in a Consumer Proposal

Tips for Car Loans if you are involved in a Consumer Proposal

If you are involved in a consumer proposal, we can help you get an automobile loan. Apply Now

If you are not familiar with consumer proposals, here is a basic understanding of how they work: When a person is too deeply in debt to keep up with their payments, they may enter into a Consumer Proposal. What this means is that they go to a trustee who contacts all their creditors and he offers them a deal. An example would be to inform everybody that the client could no longer meet his or her financial obligations and that if they want to get paid, they must stop charging interest on the debt. Normally, a proposal is a 3 or 4-year plan to pay everybody off.

In the eyes of a lender, a proposal is equivalent to a bankruptcy. Many lenders will not deal with a person in a Consumer Proposal unless they are half way through or better. The reason for this is that many people involved in a proposal end up going bankrupt because they cannot keep up with the payments. Get all the facts before entering into a consumer proposal.

We have lenders who will approve you if you are in a consumer proposal. Contact us and get all the facts.

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