What is a consumer proposal?

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Consumer Proposal

Understanding Consumer Proposals

A consumer proposal in Ontario is a formal offer to your creditors to pay off the debt. If your creditors accept your submission, it will result in a legally binding agreement that will alter your repayment terms. It can involve extending the time for repayment, reducing the amount of the debt, or reducing or eliminating interest payments. All repayment amounts are remitted through the licensed insolvency trustee to the creditor.

To initiate the process, you will be required to:

  • Provide the Licensed Insolvency Trustee (LIT) with a complete list of all assets (property and savings), liabilities (debt), household budget (income and expenses), and other pertinent information about you required by your creditors
  • Attend the first meeting with the creditors, if a meeting is requested
  • Attend two counseling sessions
  • Advise the LIT of any address change and contact information (telephone number and email address
  • Generally assist the LIT during the administration of the proposal

Feel free to contact us through this website for more information.

Solutions offered by our debt counselors

While a consumer proposal may not be for everyone, it is one of the solutions offered by our debt counselors and Licensed Insolvency Trustees. It offers an alternative to bankruptcy and can be the answer to your debt issues.

We can help you determine whether a consumer proposal is right for you

A Consumer Proposal is your Chance
for a Fresh Start.

Call for a free and confidential consultation at


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