Reduce and Consolidate Your Debt!

A consumer proposal can help you regain your financial freedom!

Free Consultation

About Us

We are Licensed Insolvency Trustees. We are licensed and regulated by the Government of Canada. We are licensed to help anyone living in Ontario. We can sign documents remotely and have offices in London (head office), Hamilton (by appointment only), Toronto (by appointment only) and Ottawa (by appointment only).

Our mission is to help people get relief so that they can take care of things that are more important, such as family and retirement.

We will review your situation and provide advice, with no obligation. If you decide to use our services, we will tailor your consumer proposal to fit your budget.

About Your Situation

A consumer proposal is best suited for someone who is unable to pay their debt in a reasonable period of time.

Someone who is experiencing some of the following concerns would benefit from a consumer proposal:

  • You are unable to make required payments to your creditors.
  • You are worried that you may never get out of debt?
  • You want to avoid bankruptcy but can't get ahead.
  • Creditors and collection agencies keep calling you for money.
  • Creditors are threatening wage garnishments or taking your assets.

Proposal Cost

A consumer proposal payment will be different from person to person and is calculated based on your financial situation.

We offer free assessments and during these assessments, we will ask you about household income, assets and who your creditors are.

Based on our discussion, we will formulate a proposal payment that meets your financial abilities and offers something that the creditors will support.

Our fees are included in your proposal payment, and you only have one payment to make each month. We will never ask for money before signing documents.

Common Debts

A consumer proposal works to eliminate your unsecured debt. Secured debt like mortgages and car loans are not cleared up unless you would like to surrender the asset as the loan payments are too much. You continue paying your mortgage and vehicle loans.

Here are some example debts we see:

  • Credit cards and lines of credit
  • Payday loans
  • Income tax and other government debts
  • Overdue utilities
  • Unpaid rent to your landlord
  • Cell phone bills
  • High interest loans

Don't see your debt listed above? Ask us and we will let you know if it can be included

Benefits of A Consumer Proposal

  • You can be debt free in 5 years or less.
  • Keep your house, car and other assets
  • Stop collection calls and interest charges.
  • Protect your wages from garnishment.
  • Keep your tax refunds and credits (unless you already owe the government money)
  • Consolidate your payments into one monthly payment. One payment to pay them all!
  • Our fee is included in this so there are no extra payments due.

Consumer Proposal Steps

We would start with an initial assessment of your financial situation and challenges that you are currently facing.

After concluding this assessment, we would be able to determine what your individual proposal terms might be. Proposal terms can be summed up as "your payment plan".

If you feel like a consumer proposal would be a great benefit and help you out in your difficult time, we will then start the process of collecting information and documents from you.

Once all the documents are in order and ready for signing, we would meet, either in person or by video, to review and sign each document. Don't worry, if you have questions during the process, we are more than happy to answer them.

After signing, we file the documents and send notices to your creditors of your consumer proposal.

Creditors will have the option of:

  • Voting in favour of your consumer proposal
  • Voting against it
  • Not voting at all

We only need 51% of creditors (based on dollar amount) to support your consumer proposal. Sometimes creditors will support a consumer proposal but will ask that the monthly payment be increased. This only matters if the creditors asking for more money represent the majority of your debt. If need be, we are here to negotiate the payment terms for you.

After a consumer proposal has been accepted by the majority of your creditors, we will need to wait 15 additional days for the consumer proposal to be court approved. This step is generally automatic and attendance at court is unnecessary. After your consumer proposal has been approved by the court, your consumer proposal becomes a legally binding contract between you and your unsecured creditors.

The final step is performing the terms of your consumer proposal. Make your payments as agreed upon and attend credit counselling sessions. You always have the option to pay your consumer proposal off early, with no penalty.

Once you fully perform the terms of your consumer proposal, your unsecured debts are discharged.