Eliminate Stress & Anxiety

We are here for you every step of your Journey

We understand – Whether you’re struggling with mortgage payments, credit card debt or both, we’re here to help you move forward. We understand that financial challenges can happen to anyone. That’s why the experts we work with focus on solutions, not judgment, working together to put you back in control of your finances.

It's YOUR Time to Take Back Control

Being debt-free after struggling with overwhelming debt can feel incredibly liberating and empowering. Many people describe it as a huge weight lifted off their shoulders, allowing them to breathe easier and focus on their future with optimism. It often brings a sense of financial freedom and control, reducing stress and anxiety related to money.

💡 GETTING A FRESH START IS POSSIBLE

A consumer proposal is one of Canada’s best solutions for dealing with debt.

If your bills are too much to handle and you’re looking for an easier way to pay off debt without filing for bankruptcy, a consumer proposal may be for you.

WHAT IS A CONSUMER PROPOSAL

A consumer proposal is a legally binding agreement between you and your creditors to repay a percentage of what you owe in exchange for full debt forgiveness. A consumer proposal is a proceeding under the Bankruptcy and Insolvency Act and is administered by a Licensed Insolvency Trustee.

ABOUT CONSUMER PROPOSALS IN CANADA

70-80% – Potential debt savings after filing a consumer proposal in Canada
$250,000 – Maximum unsecured debt limit for filing (excluding home mortgage)
5 years – Maximum length of time to make proposal payments
0% – Interest charged on debts once a consumer proposal is filed
6 years – Maximum time from date of filing a proposal stays on your credit report
100,000 – 110,000 – Number of Canadians who file consumer proposals annually (as of 2024)
80% – Percentage of insolvencies that are consumer proposals (vs bankruptcy – as of 2024)

✅ Who Can File a Consumer Proposal?

To qualify, you must:

Be an individual (not a corporation).
Owe more than $1,000 and less than $250,000 (excluding a mortgage on your principal residence).
Be insolvent – meaning you:
- Can’t pay your debts as they come due, or
- Owe more than the value of your assets.
- Reside in Canada or have property in Canada.
- Income Sources That Are Eligible

Your income source does NOT disqualify you from filing a consumer proposal.
What matters is whether you have some ability to make payments toward your debts under a proposal.
Here are common income sources that are allowed:
Income Type Eligible to File Consumer Proposal
CPP (Canada Pension Plan) ✅ Yes Regular source of income
OAS (Old Age Security)✅ Yes Also includes GIS
EI (Employment Insurance)✅ Yes Can be used, but temporary
ODSP (Ontario Disability Support Program)✅ Yes Can file, though payments must be affordable
WSIB (Workplace Safety Insurance Board)✅ YesTreated like income
Employment income✅ Yes Common scenario
Self-employment income✅ Yes Also allowed
Social Assistance / Welfare✅ Yes Proposal must be realistic
No income / low income✅ Yes, but...Proposal must still be feasible

⚠️ Important Considerations:

A Licensed Insolvency Trustee (LIT) is required to file a consumer proposal. They will assess your budget and debts to ensure the proposal is affordable and fair to both you and your creditors.
If your income is entirely social assistance, the trustee will evaluate whether you can reasonably make any payments at all. If not, bankruptcy may be more appropriate, though you’re still allowed to try a proposal.
Consumer proposals are legally binding, so it's important that the monthly payment fits within your budget.

Summary:

If you're receiving CPP, OAS, EI, ODSP, WSIB, or any other income, you can apply for a consumer proposal as long as you meet the basic requirements and can afford to make the proposed payments. An LIT will help determine what's realistic for your situation.

Unspoken Realities of a Consumer Proposal

While a Licensed Insolvency Trustee (LIT) plays a key role in helping you file a consumer proposal, it’s important to understand what their role does and does not include

✅ What they will do

Listen to your financial story to understand your situation
Assess your eligibility for a consumer proposal or other debt solutions
Recommend the most appropriate solution based on your circumstances
Calculate a repayment amount that meets both your needs and your creditors’ expectations
Create a manageable payment schedule
File and manage the consumer proposal on your behalf
Answer any questions you may have throughout the process

🚫 What they will not do

Act as your personal financial advisor
Provide ongoing financial coaching or budgeting help
"Hold your hand" through every step of rebuilding your finances after the proposal
Make decisions for you — they provide options, but the choice is ultimately yours
Inform you of the unspoken details of the consumer proposal that could benefit you before you file your proposal

Late Mortgage Payments

Consumer Proposals filed in 2024

February 25, 2025

More than 11,000 mortgages in Ontario recorded a missed payment in Q4 2024 Source: EQUIFAX

SHOW ME MORE

Consumer Proposals filed in 2024

There were 108,255 consumers who filed Consumer Proposals in 2024. 7,288 in December 2024 alone - Source: Insolvency Statistics in Canada - Government of Canada

SHOW ME MORE

Consumer Debt in 2024

Consumer Proposals filed in 2024

Consumer Debt in 2024

Total consumer debt in Canada reached $2.56 trillion at the end of 2024, the average debt per consumer reached $21,931 end 2024

Source: EQUIFAX

SHOW ME MORE

FINANCIAL POST

High costs continue to erode financial flexibility

More than half of Canadians are feeling 'financially paralyzed,' RBC poll says. The stubbornly high cost of living has many Canadians feeling anxious, stuck, and struggling to make ends meet and 50 per cent said they are spending all of their income on necessary bills and expenses according to a new poll released Jan 23, 2025 by Royal Bank of Canda

READ FULL ARTICLE

Stable versus Struggling - Canada’s Financial Divide Widens

Mortgage Delinquencies Rising in Ontario Amidst Rising Consumer Debt - Equifax Canada Market Pulse Quarterly Consumer Credit Trends. A growing financial divide is emerging across Canada, with some borrowers benefiting from lower interest rates while others struggle under mounting debt. 40 per cent say they are $200 or less away from financial insolvency each month - Report EQUIFAX

READ FULL ARTICLE

Why Most People Wait Too Long to Get Debt Help

Dealing with debt is hard

And talking about it? Even harder. Whether it’s fear or stress, most people don’t exactly jump at the chance to ask for help. It feels personal, emotional, and sometimes even embarrassing.

Increased stress, anxiety and burnout

Debt stress is very real. It doesn’t just live in your bank account: it can mess with your sleep, your focus, your patience, and your relationships. Carrying that weight for too long wears you down emotionally.

If you’re feeling this way, you’re not alone. 108, 460 Canadians reached out for help and support in the last 12 months - Over 500 people currently reach out daily for support across Canada and the number is growing rapidly according to Statistics Canada.

READ FULL ARTICLE