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

Debt Consultants Referring People to file Consumer Proposals

Debt consultants advertise that they can settle your debts for a fraction of what you owe, all while promising to stop collection calls and wage garnishments. What they don’t say is that they are advertising the exact same service that only a Licensed Insolvency Trustee can administer: a consumer proposal. A consumer proposal is a legal arrangement between you and your creditors where you agree to repay a portion of your debt. Although, the amount offered to…

Consumer Proposal: 5 Things to Know

If you are thinking about filing a consumer proposal there are 5 things you should know. 1. A Consumer Proposal is Court Approved Once it is filed, collection actives against you stop and any wage garnishments stop (with limited exceptions such as child support). If you deal with your debt through other methods such as credit counselling or debt settlement, the creditors can still continue court actions. 2. A Bankruptcy Trustee Must Administer a Consumer…

Negotiating A Successful Consumer Proposal

For a consumer proposal to be successful it must be acceptable to several parties. First you must be assured that you will be able to afford your monthly payments and that this is the best solution to eliminate your debts. Creditors are primarily looking at the total money they can expect to receive over the term of the proposal. They have certain ‘expectations’ and a successful plan takes these factors into consideration. Each person’s situation…