Consumer proposals can reduce debt up to 80%

The first step is booking your free consultation.

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Are you ready to start living debt-free?

We'll meet with you for a free, no-obligation consultation to assess your finances and explain all your options so that you can make an informed decision on the best path towards debt freedom.

Book a free consultation

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.

The benefits of a consumer proposal

✅ 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.

The consumer proposal process

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1. Book your free consultation to assess your finances and consider all your options.

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2. Work with your Licensed Insolvency Trustee to prepare & file the consumer proposal.

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3. Make manageable monthly payments to become debt-free & begin rebuilding your credit.

Our clients say it best

My consumer proposal experience: I had been putting off dealing with my credit card and line-of-credit debt, which totaled about $25,000. I tried to pay the bank back for years without ever touching the principal. Eventually the creditors started calling about 10 times a day. After talking with BDO, we decided to offer the bank $135/month for 60 months and the bank accepted the offer. My Administrator has been supportive and understanding. She made the whole process easy, convenient and understandable for me. Thank you BDO! Reposted from Google My Business reviews with client's consent.



My Licensed Insolvency Trustee and her team were compassionate and understanding of my situation and helped create a solution that worked for me. BDO as a whole offered great resources to understanding my options, and their national reach allowed me to connect with a local office after moving so I didn't have to travel hours for in-person meetings when needed. Overall I'm elated to have chosen to work with BDO.



I wanted to tell you how this Proposal impacted my life. Even though my credit is low for a while, I feel great. I got a secured credit card this summer and have been using it and paying it. TransUnion credit score is up to 623 (it was in the 400s). Equifax is still in the 400s, but is slowing improving. I also have managed to save $30,000!!!! I have a plan to get a house in two and a half years. Thank you for everything you have done for me. I know I’m just a client but your work, kind words and sympathy saved me.



What debts can be eliminated?

✅ 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

You can qualify for a consumer proposal if:

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.

What could your monthly payments look like?

Add up your debt from all sources (including credit cards, lines of credit, loans, etc.) and enter the total amounts below. Click 'Submit' to see how different solutions can affect your monthly payments and the total cost of repayment over the span of 5 years.

Type of debt
Based on estimated interest charges, here are four possible debt solutions with their respective monthly payments and total costs over the course of 5 years. Please note that this information is for illustration purposes only. Monthly payments can vary depending on many factors, including your salary and family situation.
Monthly payments
Total cost of repayment
Repay debt on your own
Are you able to repay your debt on your own? If you're looking to pay it off in 5 years, your monthly payment will need to be . In total, you will spend .
Debt consolidation loan
If you have a good credit score and are able to qualify for a debt consolidation loan from your bank, you could repay your debt in 5 years with a monthly payment of . In total, you will pay .
Credit counselling
If your credit rating isn’t strong, your bank might not offer you a debt consolidation loan. You can explore credit counselling, where interest charges are frozen over the course of the repayment period. With this option, your monthly payment will be over five years. But you will have to repay the total amount of your debt
Consumer proposal
If you’re no longer able to pay back all of your debts, a Licensed Insolvency Trustee (LIT) can reduce your debt load by 30-80%. Based on a 70% reduction, your monthly payment will be only , and your total repayment amount will be .
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Let's put an end to your debt stress

We'll assess your finances and have a practical, judgement-free conversation about all your available options so that you have a plan to tackle your debt and can get a better night’s rest.

Book a free consultation

People experience financial problems for many reasons

Our clients often find themselves in financial trouble through no fault of their own. Unforeseen life events causing a sudden drop in income due to illness, death of a family member or divorce are all leading causes of financial difficulties and it's important to know that you are not alone. There's no shame in seeking help. We offer judgement-free support and can help tailor a plan to deal with debt from all sources, regardless of how you found your way into debt. 

Couple stressing over mounting bills

Homeownership and mortgage debt

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.

Why our clients choose BDO?

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Judgement-free advice

Talking about debt can be intimidating, so we ensure you feel supported every step of the way.

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Solutions tailored for you

We take the time to explore all debt relief options, so you can choose the best one for you.

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Helping Canadians since 1958

With 120+ offices and 60+ years of experience, we're ready to help in your local community.

Canadians helped across Canada

We'll find solutions to your debt problems

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.

Find your local office