What Is A Consumer Proposal?

Consumer proposals are a proactive solution to your debt problems. Consumer proposals take charge of your money problems, enabling you to propose a direct debt settlement with your creditors. Filing bankruptcy in Canada will also deal with your debts, but bankruptcy is a more reactive approach, when you have no other options.

In a typical debt proposal you would make a single monthly payment over a period of no more than 5 years. Those funds would be distributed among your creditor. Once the final payment is made, your debts are eliminated

Why File a Consumer Proposal

  • A legally binding debt settlement
  • Repay only a portion of your total debts
  • One, affordable, monthly payment over no more than 5 years
  • Interest is frozen when you file

Consumer Proposal: Immediate Debt Relief

Even if you qualify for a debt consolidation loan, you will be repaying all of your debts, in full, plus interest. If you have more debt than you can handle, that's very expensive.

Consumer proposals feature a single, reasonable, affordable monthly payment to deal with all of your unsecured debts.

Consumer Proposal Debt Settlement

To compare possible payments in a consumer proposal with other options, try our consumer proposal calculator or talk to one of our consumer proposal administrators about your situation.