Wipe out debt with a consumer proposal in Scarborough

With a consumer proposal in Scarborough, you could reduce your debt by up to 80%.

  • Reduce your debt
  • Lower your bills
  • Freeze interest
  • Stop collections
  • Protect your assets
Check if you qualify

It only takes 30 seconds and it's free.

Consumer Proposal Scarborough

Why file a consumer proposal in Scarborough?

A consumer proposal is an agreement between you and your creditors, helping you to get your debt problems under control and your life back on track.

By filing a consumer proposal in Scarborough, your unsecured debt is restructured into one manageable monthly payment.

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

Based on what you can afford, not what you owe, a consumer proposal is typically paid over five years. In return for committing to a consumer proposal, creditors may even agree to debt forgiveness by writing off part of your debt.

A consumer proposal lets you reduce your debt by up to 80%

An attractive alternative to personal bankruptcy, a consumer proposal could be the best option for you if you have:

  • Debts totalling £5,000 or more.
  • Problems paying your debts as they become due.
  • The ability to make a monthly repayment after essential bills.

A consumer proposal is available to people living in Scarborough, Toronto, and throughout Canada.

See if you qualify

To learn more about filing a consumer proposal in Scarborough, contact a local Licensed Insolvency Trustee today for a free consultation.

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How do Scarborough consumer proposals work?

A consumer proposal is one of the best debt relief solutions available. Your payments are reduced to an affordable level, and interest and charges are frozen.

Collection calls, wage garnishments and legal action stop.

Because a consumer proposal is legally binding, creditors can no longer chase you for money as long as you keep up your monthly payments.

You won’t lose any assets, like your home, car, savings and tax refunds.

Eliminate debt but protect your assets such as your home car and savings.

You won’t have to deal with your creditors directly. Instead, a Licensed Insolvency Trustee will liaise with them on your behalf and carry out all the paperwork.

If your financial situation changes for the better, your payments will never increase. You have the option of completing your proposal early if you want to.

A consumer proposal can be spread over five years.

Working in partnership with Licensed Insolvency Trustees, we have successfully removed the burden of debt for thousands of Canadians.

With a wealth of insolvency knowledge and experience to help you through these difficult times, request a free consultation from a trustee to see if you qualify for a consumer proposal in Scarborough.

Get debt relief

Free consultation with a Licensed Insolvency Trustee by video, phone or in person.

  • Experienced trustees
  • Local offices
  • Personalized plan
  • No fees
Get started

It only takes 30 seconds.

How much does a consumer proposal cost?

The cost of a consumer proposal depends on your financial situation. Your Licensed Insolvency Trustee will review how much you owe, the creditors, your income, and whether or not you have any assets.

Use our consumer proposal calculator to get an estimate.

Consumer proposal cost

Advantages of a consumer proposal

A consumer proposal helps you sort your financial problems in a structured way. You only repay what you can afford, and the harassment from creditors stops. Think of a proposal as debt consolidation without interest fees.

The benefits of a consumer proposal include: 

  • One small monthly repayment.
  • No more interest payments and charges.
  • No more hassle from creditors.
  • A trustee deals with your creditors, so you don’t have to.
  • You can avoid filing for bankruptcy.
  • Know when you will be debt free (usually within five years).
  • Write off up to 80% of your debt.
  • You can keep your home, car and all of your assets.

Dedicated Licensed Insolvency Trustee

A Licensed Insolvency Trustee must carry out a consumer proposal on your behalf. A trustee is a licensed professional appointed by you to manage your debts.

Licensed Insolvency Trustees can stop collection calls, lift wage garnishments, end all legal action and freeze interest on debts.

A Licensed Insolvency Trustee will take care of the whole process for you.

  • They agree on a payment schedule between you and your creditors (you could write off a portion of your debts).
  • They liaise with your creditors.
  • They make sure all the paperwork is correct.

You simply make your agreed monthly payments to your Licensed Insolvency Trustee, who will distribute the funds to your creditors. It’s that easy.

Because a consumer proposal is legally binding, no further charges or interest can be added. What’s more, your creditors can’t contact you or harass you for additional payments as long as you keep up your side of the agreement.

Check to see if you qualify for a consumer proposal.

Get debt relief

Free consultation with a Licensed Insolvency Trustee by video, phone or in person.

  • Experienced trustees
  • Local offices
  • Personalized plan
  • No fees
Get started

It only takes 30 seconds.

What types of debt can I include in a consumer proposal?

A consumer proposal usually includes unsecured debts such as:

  • Credit cards
  • Personal loans
  • Bank overdrafts
  • Unsecured lines of credit
  • Store cards
  • Payday loans
  • Tax debts (unless the CRA registers a lien on your property)
  • Student loan debt if you haven’t been a student for seven years or more
  • Utility bills (You can’t include bills for services you are continuing to use)

Get debt relief with a consumer proposal Scarborough

If you are seeking debt relief in Scarborough, connect with a Licensed Insolvency Trustee in Scarborough for more information about a consumer proposal.

They’ll help you determine the best approach to settle your debts and help you avoid bankruptcy.

Get debt relief

Free consultation with a Licensed Insolvency Trustee by video, phone or in person.

  • Experienced trustees
  • Local offices
  • Personalized plan
  • No fees
Get started

It only takes 30 seconds.

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More about a consumer proposal in Scarborough

  • Can I include my student loan debt?

    You can include your student loan debt if you have been out of school for seven years or longer.

  • Does it affect my credit score?

    A consumer proposal lowers your credit score, but if your credit score is already damaged, filing a proposal can help you rebuild your credit score at a faster rate than you are currently able to.

  • Can I keep my vehicle?

    You can keep your car. If it is financed, you must continue making payments or surrender the car and include any shortfall as an unsecured debt in your consumer proposal.

  • Will it affect my mortgage?

    A consumer proposal does not affect your mortgage, and your lender cannot change the terms of your mortgage.

Get debt help

Schedule a free consultation with a Licensed Insolvency Trustee in Scarborough.

  • Experienced trustees
  • Local office
  • Personalized plan
  • No fees

No obligation and completely confidential.

Talk to a trustee