Consumer Proposal Calculator

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.

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.

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.