A consumer proposal in Alberta is an alternative to bankruptcy
While not everyone is familiar with it, a consumer proposal can be a powerful debt-relief option that may significantly reduce or even eliminate what you owe. It must be filed through a Licensed Insolvency Trustee (LIT), like our team.
What is a consumer proposal?
Definition and Overview
A consumer proposal is a formal debt relief solution governed by the Bankruptcy and Insolvency Act. Filed through a Licensed Insolvency Trustee (LIT) like Farber, it allows you to repay only a portion of your unsecured debts through affordable monthly payments—without interest and without filing for bankruptcy.
Getting started
How It Works in Alberta
If you’re struggling with debt, a Farber LIT will work with you to design a custom repayment plan based on your budget. Once the proposal is filed and accepted by your creditors, it becomes legally binding, providing immediate protection from collection calls, legal action, and wage garnishments.
Benefits of a Consumer Proposal in Alberta
Avoid Bankruptcy
Bankruptcy isn’t your only option. A consumer proposal offers a less drastic, more manageable way to deal with your debt.
Debt Reduction
Many people repay as little as 20% of what they owe. Learn how a consumer proposal reduces debt.
Legal Protection
Once your proposal is filed, you are protected by law from collection calls, legal action, and wage garnishments.
Plan for Your Financial Future
You can make a single monthly payment based on what you can realistically afford—and still keep your home, vehicle, and RRSPs.
Am I Eligible?
Who Can File
You may qualify if:
- You owe less than $250,000 in unsecured debt (not including a mortgage)
- You can’t keep up with your debt payments
- You live in Alberta or have assets in the province
- You have enough income to support a repayment plan
Not sure if you qualify? Find out who can file a consumer proposal.
Types of Debts Covered
Consumer proposals can cover:
- Credit card balances
- Personal loaans
- Payday loans
- CRA tax debt
- Student loans (if over 7 years old)
- Lines of credit and other unsecured debts
Take the first step
The Consumer Proposal Process with Farber
Book a free, confidential consultation with a Licensed Insolvency Trustee in Alberta. We’ll review your situation and explain your options clearly and without judgment. We also offer guidance on what to expect when entering a proposal.We’ll help you create a personalized, affordable repayment plan that works for your budget and satisfies your creditors.
Your consumer proposal is submitted through the Office of the Superintendent of Bankruptcy Canada. If the majority of creditors accept it, all are legally bound by the terms. While proposals can be rejected—often due to concerns about repayment or missing details—Farber is here to guide you every step of the way and help ensure your proposal is clear, complete, and positioned for success.
Once approved, you make one affordable monthly payment. After completing the payment terms and two counselling sessions, the remaining debt is forgiven.Why Choose Farber in Alberta?
Experienced Licensed Insolvency Trustees
We’ve helped thousands of Canadians take control of their debt—with care, clarity, and expertise.
Personalized, Compassionate Service
Every financial situation is unique. We’ll take the time to listen and develop a plan tailored to you—without judgment. If a consumer proposal isn’t the right fit, we can also help you explore other options—like debt counselling, bankruptcy or debt consolidation—to find the best path forward.
Local Offices Throughout Alberta
Farber has conveniently located offices across Alberta, so you can get help close to home. We also offer virtual consultations if you prefer.
Farber company you guys did an excellent job, I recommend for other people right me, because I been gone through Alberta three companies, but nothing right better than Farber. I would like thanks again your teams done amazing job
Right from the outset I was treated with dignity and professionalism, and Marcey who was the lead on my particular case was excellent. Also the other individual I can't remember his name I think it was John when we did the signing was also very informative and professional. Again I was shown empathy and professionalism as I was very embarrassed to go through this process however your staff who took care of my case were more than adequate they were actually fantastic. Thank you I'd be more than happy to recommend your services to anybody I know who's going through this unfortunate situation
Coreena made everything smooth. From the beginning that I spoke to her and gave my story, she listened and did not judge me.
Frequently asked questions
Learn More About Our Alberta Locations
Find Support Near You
We offer in-person and virtual consultations across Alberta to make debt help more accessible—wherever you are.