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

Can I Include Student Loans in A Consumer Proposal in Canada?

Yes!  But hold on, there’s a lot of different things you need to know. First, you should know that a consumer proposal is an option under the Bankruptcy & Insolvency Act  where, basically, you can offer to make a deal with your creditors. They can be really helpful ways to pay back part of the debt and get a fresh start, with the balance waived.  The reason I point out a consumer proposal is a proceeding…


What is the Voting Period in a Consumer Proposal?

If you find that you are experiencing financial difficulty and you are struggling to pay your debts in a reasonable period of time but can afford to pay a consumer proposal is an option. In a proposal you make an offer to repay a portion of your debts and your creditors vote to accept or reject that offer. First you will meet with a licensed insolvency trustee to sign your documents. The trustee will file your…


The Top 5 Reasons People Get Into Debt Trouble

Everyone knows someone who’s tumbled over the debt cliff. Indeed, statistics detailing the sorry state of our collective financial management in this country tell a troubling tale. The total consumer debt by almost any measure you use continues to grow in Canada. While there are many individuals who are managing their debt load quite successfully, things can and do change quickly. Here are five of the most common reasons consumers get into trouble with debt and tip…


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