When it comes to paying off debt, there are different options you can choose from. These include repaying the debt on your own, using a consolidation loan, following a credit counselling repayment plan, or filing a consumer proposal. This calculator will compare your monthly payments over 3 years*.

Monthly payment


  • Please Note: BDO Canada LLP is not a financial institution. The above calculator is a resource to help consumers manage their finances and better understand their re-payment options, and true cost of burrowing.
  • Debt repaid by the individual assumes the full debt is repaid in 3 years at an annual interest rate of 18%
  • Debt repaid with a consolidation loan assumes the full debt is repaid in 3 years with a 12% consolidation loan
  • Credit Counselling terms assume a full repayment of debt in 3 years at 0% interest but include the credit counselling “Client Fair Share” fee of 10%
  • Consumer Proposal assumes 30% of debt is repaid over a 3 year period
  • The amounts shown are for illustrative purposes only. Your actual amount may be higher or lower depending on your financial situation. Contact us for a free, no-obligation consultation to receive an accurate calculation.
Licensed Insolvency Trustees Since 1958