Consumer Proposals
Common Option for Debt Relief in Canada
Welcome to the Debt Insiders resource page dedicated to helping Canadians navigate consumer proposals. If you’re struggling with debt and looking for a solution, a consumer proposal may be the best option for you. This legal process allows you to settle your debts for less than you owe while protecting you from creditors.
Our Consumer Prospoal Resources
Our goal is to provide you with easy-to-understand resources that explain what a consumer proposal is, how it works, and the steps you need to take to file one. We cover important information on what to do and what not to do during and after the process, as well as the impact on your credit score and how to rebuild it once you’re on the path to financial recovery. Additionally, our resources highlight alternatives to consumer proposals, what to do if you’re facing a divorce or marriage changes, and tips for managing missed payments or additional debt.
Everything You Need to Know About Consumer Proposals
| Topic | Description |
|---|---|
| Overview | A consumer proposal lets you pay part of your debt over time and stops legal actions. |
| Alternatives | Other options include bankruptcy, debt settlement, and combining debts into one payment. |
| Process | Steps are listing your debts, working with a trustee, proposing payments, and getting approval. |
| During | Coming Soon - While in a proposal, make your payments on time and avoid taking on new debt. |
| After | Coming Soon - After finishing, rebuild your credit by paying bills on time and managing money wisely. |
Topics covered in this section on Consumer Proposals
