When is a Division 1 Proposal a viable option?

Similar to a Consumer Proposal, however, if you need longer than 5 years for repayment, this can be accommodated in a Division I Proposal.

1. If you have debt that is unmanageable, are struggling with high-interest payments, have debt owed to numerous institutions, and require creditor protection.
2. If you have a steady income and are willing to offer your creditors more than they would receive in a bankruptcy scenario, by making an offer for repayment over a 5-year period.
3. Alternatively, if your income is low but you have equity in assets, these can be pledged as part of your proposal offer.