Consumer proposals in Canada

What to consider

A trustee must assess your circumstances. Credit, costs and obligations need individual explanation.

Questions to ask

• Which debts can be included?
• What would this mean for my assets and credit?

Your consumer proposals reading guide

Start here, then explore the specific questions that matter to your situation.

• Consumer proposal process in Canada: steps and timeline
• Consumer proposal FAQs: eligibility, debts and co-signers
• Consumer proposal pros and cons in Canada
• How a consumer proposal affects your credit in Canada
• Consumer proposal vs debt consolidation in Canada
• Licensed Insolvency Trustees in Canada: who they are and what to ask
• Personal bankruptcy in Canada: process, duties and alternatives

From assessment to completion

A Licensed Insolvency Trustee reviews your debts and assets, discusses alternatives and, if appropriate, prepares an offer to creditors. Creditors consider the filed proposal through a formal acceptance process. Payments run through the trustee and the term cannot exceed five years. Completing the agreed conditions releases debts included in the proposal; submitting this website form does not file anything.

Costs, credit and commitments

Ask the trustee to explain the total payment, administration costs and what happens if payments are missed before agreeing. A proposal affects your credit record and does not guarantee future borrowing. You must disclose assets and debts and attend the required counselling sessions. Secured debt payments and debts not released by the process need separate discussion.

The relevant professional is a Licensed Insolvency Trustee

A consumer proposal is a formal insolvency process, not a loan or a debt management plan. A Licensed Insolvency Trustee can assess your circumstances and explain formal options. DebtHelpers cannot make that assessment or administer the proposal.

Prepare for an assessment without assuming its outcome

Bring your questions about debts, assets, payments, fees and the effect on your credit. The purpose of the conversation is to understand your options; completing an online questionnaire does not establish which one is appropriate.

Will my enquiry be offered to loan companies?

A consumer-proposal request is a trustee-assessment enquiry, not a loan request. The preview makes no referrals. Any live service must preserve that purpose and identify the recipient before sharing information with your permission.

Check the source

OSB: Consumer proposals

This brief is a starting point. Rules, availability and individual circumstances may change the options. The source link is an editorial reference, not a paid referral.

Related options

Questions about your situation

• Consumer proposal vs debt consolidation in Canada
• Licensed Insolvency Trustees in Canada: who they are and what to ask
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• Consumer proposal process in Canada: steps and timeline
• Consumer proposal FAQs: eligibility, debts and co-signers
• Consumer proposal pros and cons in Canada
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• How a consumer proposal affects your credit in Canada
• Debt relief in Ontario: local rules and next steps
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• Debt consolidation vs a debt management plan in Canada
• Debt relief options in Alberta: understand the different routes