Bankruptcy isn’t your only path – better options exist.
Bankruptcy can clear your debt, but it may also mean giving up assets and facing a longer credit recovery. A consumer proposal is often a stronger alternative. It reduces your debt, protects what you own, and helps you regain control of your finances faster.
Filing for bankruptcy in Canada can feel like a last resort, but for some people it’s the right step. You may want to explore options like a consumer proposal, which can address your debt but help you regain control faster.
Avoid bankruptcy with a consumer proposal.
Move the slider to your debt amount, and we’ll show you how much you can save over five years and each month.
With a consumer proposal up to 80% of your debt will be reduced and forgiven, and the remaining debt will be paid monthly, based on what you can afford, with no interest or fees.
You Pay:
$6,000
You Save:
$0
Consumer Proposal (0% Interest Rate)
You Pay:
$6,000
You Save:
$0
Debt Consolidation (12% Interest Rate)
You Pay:
$8,008
Do Nothing (19% Interest Rate)
You Pay:
$9,339
Here’s what to consider
Bankruptcy clears most debts but has major impacts on your credit and finances.
Doesn’t erase all debts
Impacts your credit score
Involves using your assets
Makes it harder to borrow again
It can be hard to talk about debt, but we offer a free, no-obligation, completely confidential consultation.
Your next step starts here
Share your story with one of our supportive team members
Review your debt relief options together
Make a plan to help regain control of your money
Start lowering your debt and easing your stressMy experience with Farber was nothing short of seamless. I was initially unsure and a little nervous because I didn't know what to expect and hadn't used these kinds of services before. Using Farber was one of the easiest things I've ever done in my life. They are with you every step of the way and even after!
I was so apprehensive about this process, but I am absolutely 💯 confident that this was the best move for me, and I am so happy for a fresh new beginning! Just an overall great experience and would recommend them to anyone! 😊
When I first contacted Farber, I was in panic and feeling helpless. They will represent you to your creditors and make sure that with a consumer proposal you get free of debt by making monthly payments that you can afford to pay based on your income.
My life was so stressful knowing I have payment due that I couldn’t pay on time plus with all the phone calls didn’t make matters better, I tried all options with the bank but that didn’t work out, until I reached out to Farber had live chat explaining how to resolve my debt, and for that I’m so grateful.
What made my experience great were the people that worked with me. I can honestly say that the process was made easier and less stressful for me as a result of them. I highly recommend you call them. They are pro's and will make it painless.
We believe that everyone can prosper
With more than 45 years of experience in Canadian debt relief, we’ve helped over 200,000 people just like you build a better relationship with money.
Bankruptcy or consumer proposal – we’ll help you choose the right path
A consumer proposal is an alternative to bankruptcy, and unlike a consolidation loan, it will actually reduce your debt. It ensures that you pay only some of the money you owe. The rest of the debt is forgiven–forever.
- Stop collection calls and creditor action
- We’ll negotiate with your creditors on your behalf
- Monthly payments always based on what you can afford
- 0% interest
If bankruptcy is the better fit for your situation, we’ll help you understand what to expect and how to move forward with confidence.
The Farber team helps you see things like they were before debt–with a personalized solution that’s easy to follow and saves you money.
Frequently Asked Questions
You can do this. We can help.
Debt is a difficult thing to talk about. We know that it’s a hard first step to ask for help, but we’re committed to helping you see how to get out of debt to find the confidence to get started.