The reason we are seeing more consumer proposals filed in Canada is that they are a more agreeable solution for both parties: the debtor and the creditor. If you choose to file a consumer proposal, you will only have to repay a portion of the debt you owe, and you will not have to give up any of your possessions. Creditors will usually accept a consumer proposal since this solution allows them to recover a greater portion of the debt owed than other debt relief options, such as bankruptcy.
When you schedule a meeting with a Licensed Insolvency Trustee (LIT), they will explain every debt relief solution available to you. If you decide that a consumer proposal is the best option for your situation, an LIT will negotiate with your creditors and file the proposal on your behalf. They will also be able to explain every step of the process and answer any questions you might have.