Consumer Proposal

There is a possible way out of debt that does not involve bankruptcy. It is called a Consumer Proposal, although many call it peace of mind. A Consumer Proposal is a negotiated settlement between you and your creditors. It is legally binding and subject to a specific process and conditions. A Consumer Proposal is available to individuals whose total debts do not exceed $250,000.00 (excluding a mortgage on a personal residence). You can make a Consumer Proposal to your creditors to reduce the amount of your debts, extend the amount of time you have to pay off the debt, or provide a combination of both.

The advantages of a Consumer Proposal are that any actions against you by the unsecured creditors are stopped; you retain all your assets, and ultimately avoid bankruptcy.

At Crowe Soberman Inc. we have a group of highly qualified professionals who can help you first decide if a Consumer Proposal is the answer for you, and then guide you through the process. Following is an overview of the steps we take for you:

  • Create the Proposal, based on our discussions of your ability to pay
  • File the Proposal with the appropriate authorities, making it legally binding
  • Negotiate with your creditors, so that you don’t have to
  • Receive your Proposal payments and disburse them to your creditors as agreed
  • Provide you with credit counseling to help you move on with your life
  • Oversee the Proposal until its completion, ensuring that all parties honour their agreements
  • On completion of the terms of the Proposal, file the documents that will release you from all debt covered by the Proposal

If your financial situation is beyond your control, you are not alone. Crowe Soberman Inc. has helped many others in your situation, and we can help you too!


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Contact Us

Crowe Soberman Inc.
Licensed Insolvency Trustee

2 St. Clair Ave. E, Suite 1100
Toronto, ON M4T 2T5

Toll Free: 1.877.929.2501
GTA: 416.929.2500