Consumer Proposals

Looking to reduce your debt by up to 80% while paying one low payment each month? A consumer proposal may be right for you!


What is a consumer proposal?

A consumer proposal is a formal agreement with your creditors to pay a reduced amount of the total debt you owe. A consumer proposal can reduce your debt by up to 80% of the original amount you owe. The terms of the proposal must be fair, and follow the rules set out in the Bankruptcy and Insolvency Act.

Benefits of a consumer proposal:

- No upfront fees! Our initial consultation is free and so is the filing of your consumer proposal

- Creditors will no longer be able to harass you

- Bank accounts will no longer be frozen

- Wage garnishments will stop

- You can reduce the total amount of debt you owe by up to 80%

- You will only have one low monthly payment each month

- You get to keep all of your assets

How much does a consumer proposal cost?

There are no upfront fees in a consumer proposal. The only cost to you is the monthly payment you make as part of the consumer proposal.

How long is a consumer proposal?

The length of a consumer proposal is 5 years. Payments are determined and agreed upon at the beginning of the proposal. Each month, you must make your payments. If you can afford to pay more into your proposal, the total length of your proposal will decrease.

What happens to my assets in a proposal?

You get to keep all of your assets in a proposal! You will not have to give up your house, vehicle, or any other assets.

What debts can be included in a consumer proposal?

To learn which debts can be included in a consumer proposal, please click here