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A consumer proposal in Saskatchewan 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 Legally Binding Debt Settlement Option

A consumer proposal is a powerful, government-regulated alternative to bankruptcy. It’s a legally binding agreement between you and your creditors to repay a portion of your unsecured debt — often reducing what you owe by up to 80%. Filed by a Licensed Insolvency Trustee (LIT), a consumer proposal immediately stops collection calls, wage garnishments, and interest charges, giving you the space and support to rebuild.

Getting started

How It Works in Saskatchewan

Your trustee at Farber will help you create a fair, realistic repayment plan based on what you can afford. You’ll make one fixed monthly payment — often much lower than your current debt payments — typically over a period of up to five years, providing a clear path to debt relief.

Why Choose a Consumer Proposal Over Bankruptcy?

Keep Your Assets

With a consumer proposal, you can hold onto key assets like your home, vehicle, and RRSPs — unlike bankruptcy, which may require you to give some of those up. It’s a practical solution that helps you deal with debt without losing what you’ve worked hard for.

Freeze Interest and Stop Collection Calls

Once your proposal is filed, interest on your debts stops building — and creditors can’t pursue legal action like wage garnishments or lawsuits. That means less pressure and more space to focus on your finances.

Flexible Repayment Terms

You’ll make one manageable monthly payment based on your budget, usually much lower than your current total payments. Repayment is typically spread out over up to five years, giving you a stable, structured way to regain financial control.

Not sure if a consumer proposal is right for you? You may need to seek out debt counselling or debt consolidation services to help you explore all your debt relief options. These services are offered by credit counselling agencies or financial institutions like a bank.

Am I Eligible for a Consumer Proposal in Saskatchewan?

Consumer Proposal Qualification

You may qualify for a consumer proposal if you:

  • Owe less than $250,000 in unsecured debt (excluding your mortgage)
  • Are insolvent (unable to pay debts as they come due)

Common Types of Debt Included

Consumer proposals can cover a wide range of unsecured debts, including:

  • Credit card debt
  • CRA tax debt
  • Payday loans
  • Personal loans
  • Unsecured lines of credit

Take the first step

The Consumer Proposal Process in Saskatchewan

Meet with a Licensed Insolvency Trustee in Saskatchewan (virtually or in person) to discuss your financial situation.
We’ll build a custom proposal based on your budget and negotiate terms that your creditors are likely to accept.
Once the proposal is filed with the Office of the Superintendent of Bankruptcy, creditors have 45 days to vote. If a majority of creditors (by debt value) accept, all are bound by the terms.
Make one low monthly payment to Farber. We handle payments to your creditors while you begin to rebuild your financial future.

Why Saskatchewan Residents Trust Farber

Local Support, Province-Wide

Farber provides both in-person and virtual debt help in Saskatchewan, making it easy to access expert support wherever you are.

Trusted Insolvency Trustees

Our team of insolvency trustees is federally licensed and has been helping Canadians reduce their debt since 1979.

Personalized Debt Help, Without Judgment

Every person’s debt story is different — which is why we tailor every consumer proposal to your financial reality with empathy, clarity, and no pressure. We also offer debt counselling services to help you build long-term financial habits and stay on track after your proposal is complete.

Frequently asked questions

Get answers to the most commonly asked questions about debt-relief solutions, debt terminology, budgeting and more.

Learn More About Our Saskatchewan Locations

We have offices across Saskatchewan, including: