Consumer Proposal Calculator

Use our consumer proposal calculator to get an estimate of your monthly debt repayments in a consumer proposal compared to other debt relief options.

To get started, just enter your total unsecured debt:

This includes debts such as credit cards, bank loans, payday loans, other lines of credit and tax debts. Do not include your mortgage or car loan.

Your estimated monthly payment

Based on your unsecured debt of , here is an estimate of what you might pay in a consumer proposal over five years compared to other debt relief options.

You could save by filing a consumer proposal.

This consumer proposal calculator is just a guide. The cost of a consumer proposal is different for everybody. It depends on the amount you owe, the creditors involved, your income and whether you have any assets.

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Consumer Proposal Calculator Canada

Use the consumer proposal calculator to see how much debt repayments might be in a consumer proposal versus credit counselling, debt consolidation loans and repaying the debt yourself.

Simply enter your total unsecured debt into the debt options calculator above. Make sure you include credit cards, loans, lines of credit, overdrafts and tax debts. You cannot include a mortgage, car loan or any other secured debts.

A consumer proposal combines all your bills into one monthly payment.

The cost of a consumer proposal depends on how much you owe, and your creditors, income, and assets. Our consumer proposal calculator should give you a rough idea of what your monthly debt payments might be.

When you use the consumer proposal calculator, it uses some average figures for the following debt solutions:

Repayment amount Interest rate
Consumer proposal 40% 0%
Credit Counselling 100% 0%
Debt consolidation 100% 12% compounded annually
Repay debt yourself 100% 18% compounded annually

*Your repayment amount and interest may be higher or lower depending on many factors.

Why choose a consumer proposal?

Filing a consumer proposal is usually less expensive than other debt relief options.

Your unsecured debt is restructured into one interest-free monthly payment. You can reduce your debt, lower your monthly payments, and become debt free.

Consumer proposal cost

There is no interest applied to your payments, and the amount will never increase, even if your income increases. Plus, you can pay off your consumer proposal at any time. It offers a fresh start without declaring personal bankruptcy.

The cost of a consumer proposal is calculated by a Licensed Insolvency Trustee. This person is a federally regulated and licensed professional responsible for managing your consumer proposal. They must ensure that both you and your creditors are treated fairly during the process.

All trustees are licensed and regulated by the Office of the Superintendent of Bankruptcy (OSB). They must adhere to standards of practice, including a code of ethics.

After using our consumer proposal calculator, speak to a Licensed Insolvency Trustee to get an exact cost for your consumer proposal.

Arrange a free and confidential consultation using our network of knowledgeable and experienced Licensed Insolvency Trustee firms.

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