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Consumer Proposal

Find out if you are eligible to write off your unsecured debts*

  • Lower your monthly payments
  • Stop harassing creditor calls
  • Write off debts you can’t afford
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  • Section 1
  • Section 2
  • Section 3

Section

A consumer proposal is a formal agreement between you and your creditors and is a matter of public record under the Bankruptcy and Insolvency Act.

You arrange to pay back part of the debt or debts you owe, in simple, single, manageable monthly repayments; the amount of which is calculated in respect of your income and typical monthly expenditure.

Only a Licensed Insolvency Trustee can create a consumer proposal. It is legally binding and will not last any longer than a 5-year term.

You can only apply for a consumer proposal if your debt is more than $5,000 and less than $250,000. 

A consumer proposal is an alternative to filing for bankruptcy and could result in as much as a 70% reduction of your debt without impacting on your assets (e.g., your car or your home).

Section 2

A consumer proposal is a formal agreement between you and your creditors and is a matter of public record under the Bankruptcy and Insolvency Act.

You arrange to pay back part of the debt or debts you owe, in simple, single, manageable monthly repayments; the amount of which is calculated in respect of your income and typical monthly expenditure.

Only a Licensed Insolvency Trustee can create a consumer proposal. It is legally binding and will not last any longer than a 5-year term.

You can only apply for a consumer proposal if your debt is more than $5,000 and less than $250,000. 

A consumer proposal is an alternative to filing for bankruptcy and could result in as much as a 70% reduction of your debt without impacting on your assets (e.g., your car or your home).

Advantages of a consumer proposal

  • Your debt repayments are calculated to be an amount you can realistically afford to pay
  • Any interest on your loans will be frozen, preventing additional debt accumulating
  • Your assets, including your home, car and wages, are protected
  • Part of your debt amounts may be written off

Disadvantages of a consumer proposal

  • You have to go through a court process
  • The proposal will be on public record
  • Trustees are required to pay your creditors as much as possible
  • You may be forced to pay back 100% of your debt
  • You may be forced to file for bankruptcy, where you will have to forfeit all non-exempt assets

Section 3

A consumer proposal is a formal agreement between you and your creditors and is a matter of public record under the Bankruptcy and Insolvency Act.

You arrange to pay back part of the debt or debts you owe, in simple, single, manageable monthly repayments; the amount of which is calculated in respect of your income and typical monthly expenditure.

Only a Licensed Insolvency Trustee can create a consumer proposal. It is legally binding and will not last any longer than a 5-year term.

You can only apply for a consumer proposal if your debt is more than $5,000 and less than $250,000. 

A consumer proposal is an alternative to filing for bankruptcy and could result in as much as a 70% reduction of your debt without impacting on your assets (e.g., your car or your home).

Bankruptcy

Personal bankruptcy is a legal process to obtain relief from unsecured debts while treating creditors equally and fairly.

Find out more

Debt Consolidation

Debt consolidation is a method of combining multiple debts into one

Find out more

Debt Management

A Debt Management Plan (DMP) is an informal, agreement that consolidates unsecured debts and allows you to make monthly payments to a credit counselling agency to repay your creditors.

Find out more

Debt Settlement

A Debt Settlement is a formal arrangement to reduce unsecured debts over $10,000 by as much as 70%.

Find out more

How we can help you with your debt?

You’re on your way to resolving your debt problems, this is what will happen next.

Fill out the form and arrange a call back with one of our debt advisors.

We will then run through all of the options available to you and advise you on which is the best option for you

We will then help you put the debt solution in place that will help you get back on track

Why choose us?

We’ve helped thousands of people get out of debt

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Confidential advice on all debt matters

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