Make A Deal To Eliminate Your Debt

  • Reduce your monthly payments
  • Freeze interest
  • Creditor protection
  • Federally licensed administrator
Contact a Consumer Proposal Administrator

Consumer Proposal: Canada's #1 Alternative to Bankruptcy

A consumer proposal is the only debt settlement program administered by the federal government. It was introduced into the Bankruptcy & Insolvency Act as an alternative to bankruptcy for individuals who are struggling with debt payments but do not want to file bankruptcy.

A consumer proposal gives you protection from your creditors while you make a deal to repay a portion of your debts. You pay only what you can afford. Your creditors get more than they would in a bankruptcy. It’s a win-win for both you and your creditors.

The only way to file a Consumer Proposal is through a licensed Consumer Proposal Administrator. Your administrator is also a licensed bankruptcy trustee since both procedures are governed by the federal government through the Bankruptcy & Insolvency Act. If your counsellor is not a trustee, they cannot file a Consumer Proposal for you.

Read More About Consumer Proposals

Avoid Filing Bankruptcy – Compare Your Options

You don’t want to go bankrupt but are confused about your options. Each have different advantages and disadvantages and we recommend you compare each alternative carefully to see which might be best for you. In Canada, you may choose to consolidate your debts through a debt consolidation loan, refinance with a second mortgage, talk to a credit counsellor about a Debt Management Plan or settle your debts through a Consumer Proposal.

A Consumer Proposal Administrator is required by law to discuss all of these alternatives with you.

Compare Your Options

Consumer Proposals Blog | Latest Articles

DMP or Consumer Proposal? Compare The Payments.

Two very popular debt reduction programs available to Canadians include a debt management plan and a consumer proposal. While both involve negotiation with your creditors with the assistance of a third party (a trustee in the case of a consumer proposal and an accredited credit counselling agency for a debt management plan), a consumer proposal can provide more relief in terms of lower monthly payments in most situations. To help you compare the potential cost…

Consumer Proposals Are Not A One Size Fits All Solution

I have always known that when we meet with someone we go into the process believing that a consumer proposal is unique to the individual. To emphasize the point, I decided to review 18 consumer proposals that have been filed in our Windsor & Leamington offices in a 60 day period to see just how different each scenario really was. It was an interesting exercise in which I confirmed that each proposal was as unique as…

Joint Consumer Proposals – When It’s A Good Idea

Most consumer proposals are filed by one person, but it is possible to file a joint consumer proposal. We will start with the assumption that you are eligible to file a consumer proposal and that this is the best debt relief solution. Whether or not you should file a consumer proposal jointly, or individually, depends on the circumstances. Joint Proposals are for Joint Debts A joint proposal can be filed where two people have debts that…