Consumer Proposal Calculator

Consumer Proposal Calculator Canada

Use the consumer proposal calculator to compare how much your debt repayments might be in a consumer proposal over five years versus alternative debt relief options, including credit counselling, debt consolidation and repaying the debt yourself.

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

The cost of a consumer proposal depends on how much you owe, your creditors, how much money you make, and if you have any assets. But our consumer proposal calculator should give you a rough idea of what your monthly debt repayments might be.

When you use the consumer proposal calculator, it assumes the following:

	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?

A consumer proposal is usually less expensive than other debt solutions.

Your unsecured debt is restructured into one affordable interest-free monthly payment for up to five years, allowing you to reduce and eliminate your debt.

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.

The cost of a consumer proposal is calculated by a Licensed Insolvency Trustee, a federally regulated and licensed professional responsible for administering your consumer proposal. This person 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) and must adhere to standards of practice, including a code of ethics.

Once you try our consumer proposal calculator, get an exact consumer proposal cost tailored to you by speaking to a Licensed Insolvency Trustee.

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