1. Help Center
  2. Debt Repayment Options
  3. Consumer Proposal (debts less than $250,000, excluding principal residence mortgage)

When is a Consumer Proposal a viable option?

There are many reasons why a consumer proposal may be a viable option for you.

  1. If you have debt that is unmanageable, are struggling with high-interest payments, have debt owed to numerous institutions, and require creditor protection.
  2. If you have a steady income and are willing to offer your creditors more than they would receive in a bankruptcy scenario, by making an offer for repayment over a 5-year period.
  3. Alternatively, if your income is low but you have equity in assets, these can be pledged as part of your proposal offer.