Consumer Proposals

Let’s get through debt together.

A Consumer Proposal is an alternative to declaring personal bankruptcy. It’s an arrangement negotiated with your creditors by a Licensed Insolvency Trustee. Consumer Proposals provide you with financial freedom, while still allowing creditors to receive an acceptable payment toward their accounts. A Consumer Proposal allows individuals to obtain a fresh start from an unmanageable situation, without the traumatic effects of filing for bankruptcy.

Consumer Proposals account for 90% of our practice. We take the time to thoroughly review your options with you, and help you plan for a debt free future.

The burden of unmanageable debt can become a source of stress, anxiety, and sleepless nights. I help people get through debt and experience freedom again. That is my sole cause.

Step 1

Make the call.

Contact me to ask about any immediate concerns and to set up your appointment. Making this first call, or inquiring through the form on this website, is the first step to dealing with your financial health. Imagine how good it will feel knowing you are on your way to becoming debt free!

Step 2

Meet with me in person.

Your initial appointment can be the most important in the process. That’s why you will meet directly with me, a Licensed Insolvency Trustee. I have the experience and authority to administer your file. You are never delegated to an administrator or manager.

Step 3

Start your proposal.

As soon as your proposal is filed you will experience a sense of pride in knowing you are taking charge of your debt situation. Your debt solved – it allows you begin moving forward with your life again.

Frequently Asked Questions

What is a consumer proposal and how does it work?

A Consumer Proposal is an alternative to declaring personal bankruptcy. It’s an arrangement that’s negotiated with your creditors through a Consumer Proposal Administrator (who is also a Licensed Insolvency Trustee). Consumer Proposals provide you with financial freedom, while still allowing creditors to receive an acceptable payment toward their accounts.

You are immediately protected from collection agencies and your overwhelming debt becomes manageable by offering a reduced payment plan to creditors. Once the plan is accepted by a majority, the protection from creditors continues while you make one monthly payment directly to the Consumer Proposal Administrator.

How long does a consumer proposal take to complete?

Proposals typically last four to five years, but it is also possible in certain circumstances to design a proposal that can be completed in less than 3 months. For example: a parent offers to make a lump sum payment upon creditors’ acceptance of the proposal.

How soon can I be protected from creditors?

You are protected as soon as the proposal is filed by your Trustee. We can act as quickly as you need, once we review your situation and receive your information.

Who is the administrator?

Although Trustee firms often employ Counsellors, Managers or Estate Administrators, a Licensed Insolvency Trustee is the only person authorized to be an Administrator of Consumer Proposals. By law the Licenced Trustee must meet with you before the Proposal is filed. When scheduling an appointment, we suggest you make sure that – at the very least – your first appointment is conducted by a Licenced Trustee.

The initial interview is the most important opportunity to get advice and direction. Never leave this important discussion to a Trustee’s trainee or assistant. Companies advertising themselves as “Debt Settlement Companies” or “Non-Accredited Credit Counselling” companies are not allowed to administer Consumer Proposals. Many of these types of companies carry on questionable practices which may include substantial upfront payments based on unsubstantiated promises and practices that can ultimately waste your time and further damage your credit history. We strongly advise that you seek advice only from Licenced Trustees in Insolvency, or accredited not-for-profit credit counselling agencies.

Is our meeting confidential?

All information discussed with you is confidential, in the professional sense of the word. We are bound by professional ethics and your information will never be shared or disclosed, except within the course of our professional duties. A Trustee is an Officer of the Court and has obligations if illegal actions are disclosed and we can be called to testify in Court. There is no Lawyer-Client confidentiality, so discussions with Trustees are not truly confidential in a legal sense, however you can expect that, in the normal course, your information will not be frivolously shared with anybody.

How much will my consumer proposal cost?

Fees and expenses for the administration of a Consumer Proposal are standard across the country for all Trustees and are set by the Bankruptcy and Insolvency Act’s Rules. We will be paid out of our trust account from the proposal payments that you make. There are no extra or hidden payments by you. To start a Consumer Proposal we can limit your initial payment to no more than $300 when we start, and $300 one month later. Until we know that the Proposal has been accepted your commitment is limited to $600.

What happens after I file my consumer proposal?

As soon as we file your Consumer Proposal you are protected from collectors. You immediately stop making payments to all of your “unsecured creditors,” but continue paying your normal monthly expenses such as: utilities, insurance, car loans, mortgage payments, etc. All of your creditors are notified by mail and you can refer any further phone calls to the Trustee’s office.

After filing the proposal there is a 45-day period to allow your creditors time to respond. During this time you are protected and carry on with your normal life. Often you will attend your first of two mandatory credit counselling sessions during this time.

Will I lose my house?

Consumer Proposals are a terrific tool to help you resolve your debt problems without losing a house in which you’ve built equity. When you meet with a Licensed Trustee and explain the specifics of your situation, we will explore what options will allow you to keep your home within a Proposal and determine the viability. You cannot be forced out of your home because of filing a Consumer Proposal! Of course, your mortgage obligations must be kept in good standing and future mortgage renewals cannot be guaranteed.

Can I keep my car?

You won’t be forced to sell or forfeit a car because of filing a proposal. Car loans and leases cannot be cancelled simply because you filed a Consumer Proposal, but payments must be kept up to date.