Consumer Proposal Lawyer in Toronto — what to expect
A consumer proposal is a legally binding offer to creditors, filed under Canada's Bankruptcy and Insolvency Act, to pay back a portion of what you owe over time while interest stops accumulating — an option many Toronto residents don't realize exists before calling a lawyer.
Our Toronto team reviews your full financial picture, works with a licensed insolvency trustee to structure a proposal creditors are likely to accept, and represents you through the process so collection calls stop the day it's filed. Compared to bankruptcy, a consumer proposal usually protects more of your assets and does less lasting damage to your credit — but it's not automatically the right fit for every situation, which we'll tell you plainly during your free consultation.
What this can cover
- Stops collection calls and wage garnishment immediately upon filing
- Settles unsecured debt for a percentage of what’s owed
- Protects assets that bankruptcy might not
- Fixed monthly payments with no added interest