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How to Get Out of Debt

"A Consumer Proposal Helped Me Get Out of Debt and Keep My Home and Car. Thank you!"

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Consumer Proposal Nova Scotia, NS

Cut 70% Of Your Debt. Save Your Home and Car!

A consumer proposal is a debt relief solution that allows you to settle your debt for less than you owe by proposing a debt repayment deal with your unsecured creditors.

A consumer proposal has many benefits and it is often better for your creditors as well.

By filing a consumer proposal you can consolidate all of your debts into 1 monthly payment and you will avoid all interest charges while you are making your consumer proposal payments.

A consumer proposal can last for up to 60 months, but it can last for as little as 1 month as well.

One of the benefits of a consumer proposal is you have the flexibility to repay a portion of what you owe over a period of time that works for your budget.

A consumer proposal allows you to reduce and pay off your debt, while also avoiding filing personal bankruptcy.

Consumer proposals are the most popular alternative to bankruptcy in Canada and there are many reasons for that.

The benefits of a consumer proposal are numerous including:

  • You often pay less than you owe in an interest-free repayment plan with your unsecured creditors,
  • You can keep all of your assets whether is is your home, car, boat or investments that would otherwise be lost in bankruptcy,
  • You can stop all creditor collection actions such as wage garnishments, harassing collection calls and frozen bank accounts,
  • You can have a sense of accomplishment because you are repaying as much as you can, while still getting out of debt without interest payments.

When you file a consumer proposal you are entering a legal process to repay a portion of your total debts without paying interest charges or any additional fees to your consumer proposal administrator.

Your proposal administrator will be paid out of the monies you pay to your creditors.

So if your consumer proposal calls for a payment of $300 a month for 36 months this is all you will be paying, as your proposal administrator's fees are paid out of the $300 payment you make.

Generally, your proposal administrator takes the first $1,500 in payments that would go to your creditors and then a further 20% of each additional payment to cover their fees.

Consumer proposals have steadily grown in popularity over the years as more and more Canadians realize the benefits over bankruptcy and other debt relief solutions available to Canadians.

A consumer proposal is a popular debt relief option for people that owe less than $250,000 of unsecured debts (not including the mortgage debt on your principal residence), or $500,000 if a married couple is making a joint consumer proposal.

If you have debts over $250,000 (or $500,000 if you are filing a joint proposal) you can still file a proposal, although there are different rules.

You can speak to a Licensed Insolvency Trustee in your local area to learn more about consumer proposals in BC.

We offer no-pressure, no obligation and free debt relief consultations so you can learn about all of your options to get out of debt.

Our friendly Licensed debt relief professionals understand how difficult a time this is for you.

This is why we always put you first when you turn to us for assistance with consumer proposal services.

We always put you first and make sure you are taken care of in a caring and respectful manner.

Our Licensed Insolvency Trustees understand the value of meeting with a debt professional that puts you first.

We will always take the time to listen to your concerns and make sure you feel comfortable dealing with us.

Our team of friendly Licensed Insolvency Trustees are ready to give you their expert opinions when you are ready.

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In order to see if a consumer proposal in Nova Scotia is right for you, you need to meet with one of our debt experts for a free consultation.

Contact us if:

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  • Your bills are constantly piling up
  • Creditors are taking collection actions against you
  • You struggle to make the minimum payments on your debts
  • You are stressed because of your overwhelming debt situation

How our Consumer Proposal Solutions Can Help You

A consumer proposal is a popular alternative to bankruptcy that is available for all Canadian debtors with unsecured debts of $250,000 or less.

If you decide to proceed with our consumer proposal services, your licensed insolvency trustee, acting as your consumer proposal administrator, will contact your creditors to arrange an affordable debt repayment plan with a single monthly payment for a set period of time.

Often you will repay about 30 or 40% of your total debt owed under a consumer debt proposal plan.

Many people can avoid going bankrupt by taking advantage of a consumer proposal.

Proposal filings are gaining popularity all across Canada!

You can learn more about a consumer proposal by scheduling a FREE, no obligation, no pressure consultation meeting.

People that benefit from our services include:

Debtors that can't afford to repay all of their debts but can afford a fair payment agreement each month
People that are dealing with stress and worries due to their overwhelming debt
Debtors dealing with collection calls, wage garnishments and frozen bank accounts

Other BankruptcyCanada Debt Solutions

We are here to help Canadians with all kinds of debt relief solutions.

We have been helping people for over 20 years and we have the experience and knowlege to help you get out of debt.

In addition to consumer proposal services, we offer other debt relief solutions as well.

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Filing Bankruptcy

Bankruptcy allows you to get out of debt in the quickest and most cost affordable manner.
You will be able to keep your car and home in many cases and can be out of debt in as little as 9 months.
To learn more about going bankrupt, you can contact our Licensed Insolvency Trustees for a free debt relief evaluation.

If you are dealing with debt and are struggling to manage your finances we know it can be difficult to know what to do next.

There are many solutions available to you and we understand it can be difficult to know how to proceed.

At Bankruptcy Canada we have friendly and experienced debt experts in your area who can meet with you to help you understand the right solution to your unique money problems.

With our caring assistance we can help you explore all of your debt options and help you choose the correct path towards getting out of debt.

To learn about the debt relief options provided by the Licensed Insolvency Trustees of BankruptcyCanada please request a confidential debt consultation through our online form or by calling 877-879-4770 today.

Consumer Proposals in Nova Scotia

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"Thank you for your helpful advice."
"I came to my consultation unsure if it was possible to get out of debt. Thanks to the friendly advice I received from Bankruptcy Canada I was able to make a plan to get my debts under control." Heather - Truro, NS


All of the Licensed Insolvency Trustees of Bankruptcy Canada are members of CAIRP (Canadian Association of Insolvency and Restrucuring Professionals).
CAIRP is the governing body that advocates for the insolvency (bankruptcy and consumer proposal) process in Canada.