Consumer Proposal

Do you want to consolidate your debts without another loan? Well, here’s an option.

What is a Consumer Proposal?

A Consumer Proposal is a type of debt consolidation strategy which does not involve a new loan. Federally licensed trustees administer this formal process and it becomes a legally binding arrangement, once accepted by majority (dollar value) of the creditors.
The federally appointed Licensed Insolvency Trustee considers your situation and recommends an appropriate proposal which may be paying part of what you owe, extension of your debt term, or both. You make monthly payments to the trustee who in turn distributes the same to your creditors, periodically.

How does a consumer proposal benefit you?

A reduction of upto 70% in the total eligible debt amount

Interest clock stops on the debts included in the proposal

A single monthly payment for all your eligible debt

Limited ability to defer monthly payments

Impact on credit rating is less severe than bankruptcy

Deals with all unsecured, non-government debts

Are you looking for debt relief?

 We, at Debt Mitigation Canada, welcome everyone who wants assistance with debt relief.

+1 (416)-814-6024

Call us today for help!

Choose a Debt Free Life

With Debt Mitigation Canada, you can leave all your financial worries aside. Choose a debt free life – a stress free life!

Frequently Asked Questions About Consumer Proposal

There are three rules of thumb to increase the acceptance rate of a Consumer Proposal - your payments must be affordable, it must meet the minimum expectation of creditors and your offer must be higher than what creditors will receive in bankruptcy.
No. It is mandatory to include all unsecured creditors in your consumer proposal.
Payments in a consumer proposal can be spread over a maximum period of 60 months. If you can afford higher repayments per month, you may shorten the duration.


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