If you're able to repay some of, but not all of your debt, our Licensed Insolvency Trustees (LITs) will negotiate with creditors on your behalf and reduce your debt to only a portion of what you owe — often between 30–80%. A consumer proposal will consolidate your debt into one manageable monthly payment and can also allow you to keep your assets and avoid bankruptcy.
| ✅ Freezes debt interest charges. |
| ✅ Protects you from creditors, wage garnishments, lawsuits, and stops calls from collection agencies. |
| ✅ Repay just a portion of your debt. |
| ✅ Repay your debts with 1 easy-to-make monthly payment over 3–5 years. |
| ✅ Keep all your assets including your car and home. |
| ✅ No additional costs or fees beyond your regular monthly proposal payments. |
1. Book your free consultation to assess your finances and consider all your options.
2. Work with your Licensed Insolvency Trustee to prepare & file the consumer proposal.
3. Make manageable monthly payments to become debt-free & begin rebuilding your credit.
| ✅ Credit card debt (including store credit cards) |
| ✅ Bank loans |
| ✅ Payday loans |
| ✅ Tax debt |
| ✅ Medical bills |
| ✅ Student loans, if 7+ years since you were last a student |
| 1. Your debts are greater in value than your assets or you can no longer keep up with your debt payments. |
| 2. You can only afford to pay some of your debt back. |
| 3. Your unsecured debt is greater than $1,000 but less than $250,000 (excluding mortgage). |
| 4. You are a Canadian resident or have a property in Canada. |
A consumer proposal can bring tremendous relief to people who are struggling with unsecured debt. Here’s a real debt story about Mike and Susan, new homeowners who were struggling to keep up with their bills when one of them had to stop working for health reasons and how they found relief in filing a consumer proposal.
Their BDO Licensed Insolvency Trustee was able to renegotiate their debt from $115,000 to $41,000, a reduction of 64%.
In the end, Susan and Mike needed to re-evaluate their financial goals when life threw them a curveball, and their consumer proposal helped them regain control of their finances so they could move forward carrying less of a burden.
Read more about Susan and Mike's story here.
Talking about debt can be intimidating, so we ensure you feel supported every step of the way.
We take the time to explore all debt relief options, so you can choose the best one for you.
With 120+ offices and 60+ years of experience, we're ready to help in your local community.
Talking about money can be uncomfortable & intimidating, which is often enough to prevent you from getting the help you need.
At BDO, we believe that judgement-free, compassionate support goes a long way to making that first step just a little bit easier. We know that debt problems can happen to anyone and there's no shame in seeking help.
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