Stay of Proceedings. No actions can be taken by creditors such as wage garnishments. If a wage garnishments is in place it will be removed. A proposal is good for the creditors because they get more than if the person goes into bankruptcy. Proposal are almost always accepted by the creditors.
Proposals have a very high acceptance rate.
If these alternatives will not work for you, bankruptcy may be the only way for you to get a fresh start. Bankruptcy offers a quick solution to getting out of debt. More and more people in Canada are going bankrupt.