Reduce Your Debt by Up to 80% with a Consumer Proposal
A legal debt relief solution that stops collection calls, freezes interest, and lets you keep your assets—without bankruptcy.
What You'll Get:
- Reduce debt by 30-80% on average
- Stop all collection calls immediately
- Freeze interest charges
- Keep your home, car, and assets
- Avoid bankruptcy
- One affordable monthly payment
How Does a Consumer Proposal Work?
Watch this 3-minute explanation from a Licensed Insolvency Trustee
The Consumer Proposal Process
A simple, regulated process overseen by the federal government
Free Consultation
Meet with a Licensed Insolvency Trustee to review your finances and explore all options.
Proposal Drafted
Your trustee creates a proposal offering to pay creditors a percentage of what you owe.
Creditors Vote
Creditors have 45 days to accept or reject. If majority approve, all must comply.
Make Payments
Make one affordable monthly payment for up to 5 years. Then you're debt-free.
Do You Qualify for a Consumer Proposal?
A Consumer Proposal may be right for you if:
- You owe between $1,000 and $250,000 (excluding mortgage)
- You have a steady income but can't keep up with debt payments
- You want to avoid bankruptcy
- You're facing collection calls or legal action
- You want to keep your assets (home, car, RRSPs)
Frequently Asked Questions
How much will I have to pay back?
It depends on your income, assets, and total debt. On average, consumer proposals reduce debt by 30-80%. Your Licensed Insolvency Trustee will calculate a fair offer based on what you can afford.
Will I lose my house or car?
No. Unlike bankruptcy, a consumer proposal lets you keep all your assets, including your home, car, and RRSPs, as long as you continue making secured loan payments (like mortgage or car loan).
How long does a consumer proposal take?
You can make payments for up to 5 years, but you can pay it off faster if you're able. Once you complete all payments, you're legally debt-free.
Will it affect my credit score?
Yes, a consumer proposal will appear on your credit report for 3 years after completion. However, it's better than bankruptcy (which stays for 6-7 years) and you can start rebuilding credit immediately.
What debts can be included?
Most unsecured debts: credit cards, personal loans, payday loans, lines of credit, tax debt, and collection accounts. Secured debts (mortgage, car loan) and student loans under 7 years old cannot be included.