What is a Consumer Proposal?

This is a great solution because you may be able to reduce your unsecured debt by 70% or more. Then you take the now lower amount that you owe and design an affordable tailored payment plan over up to a maximum of 60 months. For example, if you owe $10,000 unsecured debt. It could automatically be reduced to 30% or 3,000. You would only have to pay $50 per month over that 60 month period. All interest is stopped and Creditors and Collectors will no longer harass you. Also the plan is very flexible and can be paid off or reduced sooner than first designed. There are Trustee fees added but still works out great for those that qualify. Let us guide you through this and see if you can benefit.

Who is eligible – Click here for a detailed answer You can also check out this link for more information on Consumer Proposals; Again this is a case by case answer. We will fully disclose any downside and clearly weigh it against the up sides for you. For example, we will clearly explain how this may affect your credit rating and how this may impact your financial life both on the short term and also long. In many clients cases, reducing their score on a temporary basis is not an issue because their current ability to get a loan is not good due to the amount of debt they have versus income. Dealing with the debt is the priority. Then we can actively work on increasing their credit score.

Are There Disadvantages To a Consumer Proposal?


Let us help you to determine if you are a candidate as there may be more than one way to become eligible.

Come to us before you go to a Trustee – The trustee is your friend and we have a great working relationship with them but in the end, they work for the Creditor. We at On Your Side work for you – Not the Collector or Creditor!!! I can’t stress this enough. We will use every legal opportunity that is in “your” best financial interest when presenting to the Trustee. We help you to take the risk and stress out of the process. We will confidentially help you to prepare for the Trustee. We will do all the calculations for you, prepare all paperwork and take it to the Trustee before your meeting, so that we have their approval before you even meet them.

A consumer proposal is an agreement between an individual and his or her creditors to settle unsecured debts. Individuals hire a licensed bankruptcy trustee as a mediator to help them determine whether they are good candidates for this option. The trustee also mediates between the debtor and their creditors in order to secure the creditors’ acceptance of the debt repayment proposal.