How Long Does It Take To Complete A Consumer Proposal?

Understanding the Timeline of a Consumer Proposal Completion

The duration for the completion of a consumer proposal can be influenced by various elements, particularly revolving around the volume of your unsecured debt and your payment capacity.

The Maximum Limit

Firstly, it’s crucial to remember that the timeline for a consumer proposal cannot surpass five years. However, the frequency and amount of your payments can significantly influence this duration.

Flexible Payment Terms

Interestingly, the legislation doesn’t necessitate the monthly payment terms for a consumer proposal. This means you can tailor your payment terms according to your income flow.

For instance, someone with a semi-annual or annual income, like a self-employed farmer, may prefer infrequent payment terms. On the other hand, someone with bi-weekly income may find monthly payments more viable.

Therefore, consumer proposals offer quite a bit of flexibility in terms of payment terms.

Creditor Acceptance & Proposal Annulment

It’s essential to note that your proposal must be approved by a majority of your creditors, based on the owed amount. Additionally, falling behind by more than three payments can result in the annulment of your proposal.

Early Completion

Concluding the terms of your proposal earlier than the agreed timeline doesn’t attract any penalties.


The completion time of a consumer proposal is, therefore, largely dependent on your personal financial circumstances and your commitment to meet the agreed payment terms.


Key Factors Impacting the Timeline of a Consumer Proposal Completion

  • Volume of Unsecured Debt The higher the unsecured debt, the longer the consumer proposal duration.
  • Payment Capacity The higher the payment capacity, the shorter the consumer proposal duration.
  • Payment Frequency Infrequent payment terms can extend the consumer proposal duration.
  • Creditor Acceptance The proposal must be approved by a majority of creditors.
  • Missed Payments More than three missed payments can lead to proposal annulment.

The timeline for completing a consumer proposal is flexible and largely depends on the debtor’s financial circumstances. It’s crucial to understand this process, as it can have lasting financial implications.

In conclusion, it’s crucial to approach this process with a clear understanding of your financial obligations and the commitment required to fulfill them. With a clear plan and consistent effort, you can navigate this process and work towards financial stability.

Consumer Proposal Timeline

Remember, the key to successfully completing a consumer proposal involves understanding your financial position, devising a viable payment plan, and sticking to it. The flexibility of payment terms can be a great advantage in this process, enabling you to align your payments with your income flow.

As highlighted by the code snippet above, the duration of your consumer proposal is a function of your debt, payment capacity, and payment frequency. Therefore, you have the power to influence this duration by effectively managing these variables.

Checklist for Completing a Consumer Proposal

  • Understand your unsecured debt volume;
  • Determine your payment capacity and frequency;
  • Tailor your payment terms according to your income flow;
  • Ensure the acceptance of your proposal by a majority of creditors;
  • Avoid missing more than three payments to prevent proposal annulment;
  • Consider the possibility of early proposal completion.


The process of completing a consumer proposal can be daunting, but with adequate understanding and preparation, it’s a hurdle you can overcome. Remember, the ultimate goal is to regain financial stability, and knowing how long it takes to complete a consumer proposal is a significant step in that direction.

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