Peace of mind with a Consumer Proposal

We know that most people who owe money want to pay their debts however they just need more time. A Consumer Proposal gives you the time and terms you need to pay some or all of your debts, protect your assets and avoid bankruptcy.

A Consumer Proposal is a debt management arrangement you make with your creditors to settle the debt amount and/or timing of the payment of your debts. The proposal often allows you to negotiate to repay less than the full amount owed. A Consumer Proposal is also legally binding, which means your creditors will stop harassing you , garnishing your wages, and will stop all other actions against you. Let BDO restore your peace of mind with a Consumer Proposal.

Benefits of a Consumer Proposal

• Debt consolidated into one manageable monthly payment
• Negotiate to repay only a portion of your debt
• Extend the time for re-payment
• Freeze interest at the date you file
• Stop creditors from taking any legal action
• Stop wage garnishments
• Protect your assets (car, home, RESPs)
• Avoid bankruptcy
• No fees other than your monthly payment

Free Consultation - Talk to us about a Consumer Proposal

BDO can relieve your financial and emotional stress. Together we will review your budget, including your income and expenses, assets and liabilities, and explain the process of making a consumer proposal to creditors.

Qualifying for a Consumer Proposal

To qualify for a Consumer Proposal you must owe between $1,000 and $250,000 (excluding the mortgages on your house). In some cases, it may even be possible for you and your spouse to file your Consumer Proposal together, increasing the amount owing to $500,000 . You can even file a Consumer Proposal if you have already declared bankruptcy.

Debts included in a Consumer Proposal

Consumer Proposals include many types of unsecured debt, which is money owed without collateral, such as credit cards, lines of credit, bank loans, and taxes.

To know if a Consumer Proposal makes sense for you, contact BDO for your free consultation.

A Consumer Proposal can reduce monthly payments

Example: Mary owes $25,000 and wants to pay it off in 5 years; here is her monthly payment schedule with a Consumer Proposal, compared to other debt repayment options.

More about Consumer Proposals

• Learn more about Consumer Proposals, read Understanding Your Options
• Read the Frequently Asked Questions on Consumer Proposals here
  

A Consumer Proposal is just one of the debt help solutions offered by BDO. You can also speak to us about other debt management options including financial counselling or bankruptcy filing.

For complete information and to answer your questions thoroughly, we encourage you to contact your local BDO office or request a call.