Consumer Proposal Calculator – How Much Does a Consumer Proposal Cost?

Consumer Proposal Calculator – How Much Does a Consumer Proposal Cost?

Calculating Consumer Proposal Fees

A consumer proposal is often a better alternative to bankruptcy, but many people have questions about how much it will cost and want to use a consumer proposal calculator to work out how much they will need to pay each month.

Unfortunately, it is not that simple and using a calculator will not usually give you an accurate figure.

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This page will give you information about the estimated costs of a consumer proposal, but it’s important to note that every case is different and the cost will depend on a range of different factors, including:


  • The amount of debt that you owe.
  • Your monthly income.
  • Your spouse’s income.
  • Your assets.
  • The number of dependents in your household.
  • Whether you have filed for bankruptcy in the past.


The process of calculating your payments is complex and very difficult to explain, but we can provide some rough estimates to give you an idea of how much your consumer proposal is likely to cost you.

How Much Does A Consumer Proposal Cost?

The following estimates have been made based on an individual that has no assets, is single and has no dependents, and has never filed for bankruptcy in the past.

Amount of debt  Monthly Income (net) Estimated cost of consumer proposal
Under $12,000 Under $3,100 $7,200 paid in 60 monthly installments of $120
$12,000-$18,000 Under $3,450 $9,000 paid in 60 monthly installments of $150
$18,000-$21,000 Under $3,650 $10,8000 paid in 60 monthly installments of $180
$21,000-$24,000 Under $3,700 $12,000 paid in 60 monthly installments of $200
$24,000-$30,000 Under $3,950 $15,000 paid in 60 monthly installments of $250
Over $30,000 Under $12,000 Half of the outstanding debt paid in 60 monthly installments


Although these figures can give you a general idea of how much you are likely to pay, it’s important to remember that your payments will depend on your own specific circumstances.

The Cost Of Doing Nothing

When you are deciding whether a consumer proposal is the right option for you or not, it’s important that you consider the cost of doing nothing.

You do have the option of carrying on as you are and attempting to pay as much of the debt as you can, but this can quickly get expensive.

You will pay a lot of interest on the debt, over the years, and the cost of that interest will outweigh the cost of a consumer proposal in most cases.

It’s important that you consider this when making a decision about consumer proposals.

Using the Calculators

You may have seen an online calculator that claims to calculate what your monthly payments on a consumer proposal will be, but it’s important that you are cautious when using them.

Most of them tend to underestimate the payments because they purposely do not take the trustee’s fees into account.

The figures listed above are more accurate than these calculators, even though they are just estimates because they include the trustee’s fees.

A debt calculator can help you determine how you can become debt free in the quickest manner possible.

By finding a low interest rate on a consolidation loan or a debt management program you can save thousands or more in interest charges and get your fresh start sooner.

If you decide to file a consumer proposal, you can include all of your debts that are not secured including credit card, unsecured personal loans and income tax debt you owe.

A LIT will provide you with counselling sessions during your proposal to help you better understand your spending habits.

How Do You Pay Trustees Fees?

When you enter a consumer proposal, your monthly payments will go to a trustee and they will be deposited into a trust account.

The money is held here on behalf of your creditors, and the trustee takes their fees from this account.

This means that the trustee’s fees are included in your monthly payments and you do not need to pay them separately.

So, a consumer proposal calculator that doesn’t include trustee fees will significantly underestimate your monthly payments and, in reality, you will owe a lot more each month.

When you are comparing different debt relief options and you are trying to determine how much a consumer proposal will cost, you cannot simply rely on such a calculator.

The figure that it gives you will not be accurate because it does not include trustee’s fees, and working out the monthly cost is incredibly complex.

There are many different factors to take into account and a simple calculator is not effective enough.

If you are unsure about consumer proposals and you want to get a clearer idea of how much it is likely to cost, we can advise you based on your specific circumstances.

If you have questions about consumer proposal costs or any other debt relief options, don’t hesitate to get in touch today.

You can reach us by phone or fill out an evaluation form and we will get back to you to discuss your debt settlement plan.

Information on Consumer Proposals

Consumer Proposals in Canada – An Alternative to Bankruptcy
What is a Consumer Proposal?
What are the Benefits of a Consumer Proposal?
What are the Steps in a Proposal?
What Debts Are Erased in a Consumer Proposal?
Is There Life After a Proposal?
Consumer Proposal Eligibility
How to Amend a Consumer Proposal

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