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How Consumer Proposals Work


1. You meet with a federally licensed and regulated Licensed Insolvency Trustee and Proposal Administrator who will review your finances and discuss your options with you. 2. With your approval, an offer (the consumer proposal), is made to your creditors with the assistance of the Proposal Administrator. 3. Typically, a consumer proposal will require monthly [...]

  • 1. You meet with a federally licensed and regulated Licensed Insolvency Trustee and Proposal Administrator who will review your finances and discuss your options with you.
  • 2. With your approval, an offer (the consumer proposal), is made to your creditors with the assistance of the Proposal Administrator.
  • 3. Typically, a consumer proposal will require monthly payments over a period not to exceed 5 years.
  • 4. Collections, enforcement actions and interest are immediately stopped on unsecured debt by the Proposal Administrator upon the filing of the consumer proposal.
  • 5. No new interest can be added/accrued on your debts once the consumer proposal is filed and accepted by your creditors.
  • 6. The total amount you will pay to fully settle your unsecured creditors will typically be substantially reduced.
  • 7. Your consumer proposal can be paid in full at any time without a penalty.

A consumer proposal is one of the fastest, safest and legally authorized ways to get out of debt and to get a fresh financial start. Accumulating too much debt or a sudden financial problem can pose serious challenges – challenges that you don’t have to face alone!

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