Consumer Proposal

A consumer proposal allows you to Reduce And Consolidate your debt without paying any interest.

Debt Consolidation

Debt consolidation is a solution that involves combining many different debt obligations into one payment. Not all debt consolidation options are created equal.

We compare below the three possible consolidation options.

1. Consumer Proposal

A consumer proposal is the only debt consolidation option that allows you to discount the amount of debt you need to repay, sometimes by up to 70%, and pay the remaining balance, say 30%, by way of one monthly payment. You don’t pay any interest.

To learn more about this option, click on What is a Consumer Proposal.

2. Debt Management Program (“DMP’)

A debt management program consolidates your debts into one monthly payment and reduces or stops interest charges. There is no way to discount your debt under a DMP, you must to pay 100% of what you owe. In most cases, you pay a 10% administration fee.

3. Consolidation Loan

This involves obtaining a bank loan to payout existing credit card debts. Interest rates on personal loans are lower than what is charged by credit card companies. Depending on your financial situation, you may or may not qualify for a consolidation loan.


To illustrate the difference between the three consolidation options, let’s compare the results for an individual trying to consolidate credit card debts totaling $30,000.


Discount Interest
Rate Paid
Total Paid Monthly Pmts over
3 years
Consumer Proposal 70% 0% 0 9,000 250.00
DMP 0% 0% 10% 33,000 916.00
Consolidation Loan 0% 10% 0 36,180 1,005.00

These amounts are provided to illustrate purposes only to highlight major differences between consolidation options. Actual results are subject to various approval processes and may vary.

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Covid-19 / Update :

During this pandemic Licensed Insolvency Trustees were listed as an essential service by the provincial government and our company continued to carry on doing business albeit in a different capacity as we did our part to minimize the spread of the Coronavirus. Now that our economy is reopening, we have updated our business operations so that we may continue to serve you in a safe manner. We’ve worked hard to put all the necessary protocols in place to keep you and our team safe.

Our offices are now completely open again for regular business hours. We will however, continue to conduct as many meetings as possible virtually and we will continue to have many of our employees work from home to keep traffic in our offices to a minimum. We also encourage you to call or email the office before stopping in because during this pandemic there have been many changes to allow us to serve you virtually than before.

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