Consumer Proposals

A consumer proposal is an affordable way to eliminate overwhelming debt. While there is a fee to file, these fees are included as part of the proposal process. Doug Hoyes explains the costs of a consumer proposal and how payments are calculated to fit your budget.

A consumer proposal is a debt settlement plan. But what if you change your mind after filing? How do you withdraw a proposal and what does a cancelled proposal mean for your debts and credit report? Maureen Parent explains in this post.

Let's say you're in the middle of a consumer proposal plan and your financial situation changes, like you gain an inheritance, win the lottery, or get a big bonus from work, or if you become unemployed - what's the impact on your proposal? Maureen Parent explains in this post.

Yes, the courts are involved in a consumer proposal - but only to an extent. In this post, we explain how exactly the courts are involved in a proposal, what a court approval means and whether you will have to go to court.

You may already know that a consumer proposal can help you eliminate debt. In this post we explain the top laws and rules that come with a proposal filing so you have a better understanding of the process.

A consumer proposal is a great way to eliminate problem debt. But, it does come with some disadvantages. The good news is, the benefits often outweigh the downsides. We explain more in this post.

If you face an income loss, fall behind on proposal payments and the proposal becomes annulled, what are your options? We explain what a proposal annulment means for your debts, how to revive your proposal, and how to prevent a proposal annulment in the first place.

We explore six unique debt case studies to show you just how a consumer proposal can help you eliminate debt and regain financial freedom.

You may be considering a consumer proposal and wondering if it will impact your spouse. To help you get a better understanding, we explain how joint debts work, how your marital assets may be affected and how your spouse may be involved in the process. Learn more.

Your bank may be your biggest creditor in a consumer proposal. In this post, Doug Hoyes discusses what banks look for when reviewing proposals and Hoyes Michalos' process for ensuring consumer proposals are accepted by creditors.

If you've recently completed your consumer proposal - congratulations. Now it's time to plan for life post-proposal. We explain what you can expect, the steps you should take after completing your consumer proposal, and best practices for rebuilding your credit.

There are both legal and practical requirements an individual must meet to be eligible to file a consumer proposal. If you are struggling with debt repayment, find out if you should explore a consumer proposal further.

A Consumer Proposal Administrator is someone who can file for a consumer proposal. In fact, they are the only authorized debt expert in Canada who can. Learn about their role and how to find one in this blog.

Wondering what happens after you’ve completed the mandatory requirements of a consumer proposal? We explain what a Certificate of Full Performance means for you and what happens with your debts.