Consumer Proposal

Rebuilding Your Financial Future with Confidence and Control

Consumer Proposal

What is Consumer Proposal

Consumer Proposal Settlements in Toronto, ON

A consumer proposal is a formal, legally binding process through which it is proposed to your creditors that while your debts are no more affordable, you are willing to pay a portion of what you owe through interest-free monthly installment which is much lower and manageable.

Consumer proposal is a way to consolidate your unsecured debt into a monthly payment plan that stops all interest. A consumer proposal immediately stops all collection proceedings and legal action by your creditors, including lawsuits and wage garnishment, giving you immediate financial stress relief.

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We can settle the following debts under
Insolvency Act

Business Debt

Business Tax

Car Loan Shortfall

Credit Cards

Line of Credit

Mortgage Shortfall


Pay Day Loan

Personal Loan

Revenue Canada

Store Cards

Student Loan

What Makes Us Different?

How Does
Consumer Proposal Work?

Together, we negotiate your existing debt amount down to a more manageable amount. It will be important to know about …


Your current financial situation


How much you owe and who you owe


Your work status


How much you earn

Ready to regain control of your finances?

Take the first step towards a debt-free future with Credit Management Services

Call Now 416-780-1020

What Makes Us Different?

Advantages of a
Consumer Proposal

  • It prevents bankruptcy
  • It puts an end to calls from wage garnishments and collection agencies
  • It lawfully binds all creditors to your offer including the Canada revenue agency and payday lenders
  • It freezes interest on debts
  • It merges debts into a low-end monthly payment
  • It keeps all your properties including any equity in your residence
  • It reduces your liability by up to 70 to 80 percent.

Consumer Proposal

General FAQ's

What are my obligations during a consumer proposal?

Although there is not the same level of duty required as when filing bankruptcy, filing a consumer proposal does mean that you take on some obligations. These include ensuring all agreed monthly payments are made on time, and attending two credit counselling sessions to learn more about financial management. There is no requirement to report on income and expenses.

What is the impact of a consumer proposal on my credit report?

Because in Canada consumer proposals are legally supported, all consumer proposals must be reported to the Office of the Superintendent of Bankruptcy and subsequently on to credit bureaus. A notice will be logged with the date you filed for a consumer proposal, which will remain on your credit report for three years after your proposal is completed. Following completion, the notice will be removed from your credit report by the credit bureaus. Most individuals notice an improvement in their credit score not long after completing their consumer proposal.

How long is the payment plan in a consumer proposal?

In an approved proposal, you agree to pay a small portion of your debt which does not have any interest charges. The fixed pay back amount can be paid in monthly installments. The maximum time it can be stretched up to is 5 years. However, you have options to pay more and finish it as soon as you want.

Will I be able to obtain new Credit Cards after filing Consumer Proposal?

Yes you will be able to obtain new Credit Cards after you have filed your Consumer Proposal. We ensure that our clients are on the path to rebuild their credit history while they are in this process. Apart from credit cards, you will also get our professional advice to obtain a vehicle loan or a mortgage loan, for a prosperous future. Our goal is not just limited to making you debt free but also to help you possess personal wealth and assets in the long term.

What will happen to my assets as a result of filing a Consumer Proposal?

When you file a Consumer Proposal you are able to keep your house and your car. Your other assets are also not seizeable under the law, which means you get to keep those assets which include your personal Savings, R.r.s.p & R.e.s.p, Business Assets and your Insurance Policy. It has also no effect on a person’s Pension Plan, Old Age Security and any other Income Benefit.

Will a Consumer Proposal stop the collection process and other legal actions initiated against me?

A Consumer Proposal will immediately stop any legal actions and wage garnishments. It will also put an end to the collection efforts against you by your creditors or the third party agencies. You will start receiving your full pay and all the harassing calls and letter will go away.

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Faster than you think, you could

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What should you do now?

  • Be making one small monthly payment for all your debts
  • Be free of threatening phone calls
  • Be on the way to re-establishing your credit
  • Reduce your debts
  • Be free of wage garnishment

Contact Us

Our Locations

3200 Dufferin Street,
Suite 502, North York,
ON M6A 3B2

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150 Consumers Rd Suite No. 200, North York, ON M2A 1P9, Canada

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3025 Hurontario St,
Suite 300, Mississauga,
ON L5A 2H1

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