A consumer proposal in Ontario 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?
A Federally Regulated Debt Solution
A consumer proposal is a formal agreement that allows you to repay a portion of your unsecured debt, often reducing your total debt by up to 80%. This process is administered by a Licensed Insolvency Trustee (LIT), who will work with you and your creditors under the protection of the Bankruptcy and Insolvency Act.
Getting started
How Consumer Proposals Work in Ontario
With a consumer proposal, you’ll make one fixed monthly payment that fits your budget. In return, creditors stop charging interest, and all collection activities — including calls and wage garnishments — are halted. At Farber, our team will guide you through every step of the process, from assessing your debt to communicating with creditors and filing the proposal. We serve clients across Ontario, offering both in-person and virtual consultations, ensuring that our guidance is always local, personal, and confidential.
Benefits of a Consumer Proposal in Ontario
Avoid Bankruptcy
Achieve debt relief without losing your home, car, or other valuable assets.
Stop Interest and Collections
Once your proposal is filed, all interest charges, collection calls, wage garnishments, and lawsuits are legally stopped.
One Affordable Monthly Payment
Simplify your debt into one predictable payment that fits your budget and lifestyle.
Do You Qualify in Ontario?
Basic Eligibility Criteria
You may be eligible for a consumer proposal in Ontario if you:
- Owe less than $250,000 in unsecured debt (not including your mortgage)
- Are unable to pay your debts in full as they come due
Concerned about your home or mortgage renewal?
Types of Debt Included:
Consumer proposals cover a wide range of unsecured debts, such as:
- Credit card balances
- Personal and payday loans
- CRA income tax debt
- Unsecured lines of credit
Compare your other options:
Take the first step
The Ontario Consumer Proposal Process
Meet with a Licensed Insolvency Trustee in Ontario, virtually or in person, to assess your financial situation.
We’ll evaluate your income, expenses, and debt to create a realistic repayment plan.
Once filed, creditors have 45 days to vote. If the majority (by debt value) agree, the proposal becomes legally binding.
You make one monthly payment. After the term ends, any remaining eligible debt is discharged.Why Choose Farber in Ontario?
Local Expertise Across Ontario
From Toronto to Windsor, and Ottawa to Thunder Bay — we serve communities all across Ontario with local, personalized help.
Licensed Insolvency Trustees
Only a LIT can file a legally binding consumer proposal — and our trustees are federally licensed and compassionate professionals.
Over 45 Years of Experience
Farber has helped more than 200,000 Canadians find meaningful, lasting debt relief.
I went to Farber in North Bay, Ontario, desparate for help. I had gotten finanicially over my head and didn't know what to do. It was the best decision I ever made. Ray was kind, nonjudgemental and very knowledgeable. I can now breathe and get on with my life.
The staff at the Farber office in London Ontario have been extremely supportive and understanding during this whole process with me. I cannot think of anyone else that I would rather recommend to someone else who may find themselves in need of help with debt problems. I cannot say thank you enough for all of your help and knowledge. Keep up the great work!
Upon driving to relocate from BC to Ontario , I found myself do to unforeseen travel expenses including an accident in severe financial difficulty . With only a meager pension income to draw from , as 83 year old , I would not have been able to clear my debt in my lifetime. I looked to Farber for help and a resolution . I was extremely lucky to be represented by Leah Needham . Her compassionate understanding for my situation eased my stress level and her professional assistance was outstanding and completely handled to my satisfaction