During a recent Ipsos survey that took place in Canada, a whopping 30% of respondents reported being insolvent. That being said, if you're unable to pay your bills, you are not alone, and bankruptcy isn't your only option.
The top two insolvency options available for individuals include personal bankruptcy and consumer proposals. Both will allow you to resolve issues with your debt while providing you with legal protection from creditors. However, there are some key differences between the two solutions to keep in mind.
Read on to learn more about your top two options for resolving your debt and reclaiming your life.