You can
be debt free

Debt can happen to anyone. We’ll help you find the right solution to get back on track.

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Consumer proposal: an alternative to bankruptcy

A consumer proposal is a great option for people struggling with debt who can repay a portion of what they owe.

Debt help you can trust

Grant Thornton Limited is one of the largest consumer insolvency firms in Canada. We offer a range of debt help services, including consumer proposals, bankruptcy, and free consultations.

60+ Locations
50+ Years of experience
100k+ Canadians helped
CAIRP Logo Licensed by the Government of Canada
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Get peace of mind

Our Licensed Insolvency Trustees and debt professionals will explore your options and help you find the right solution to become debt free.

  • Free 1-hour consultation
  • Expert debt advice
  • No judgement
  • No obligation

Your questions answered

A consumer proposal is a legal repayment agreement negotiated with your creditors to settle your unsecured debt (credit cards, income tax, etc.). Your trustee will work with you to offer creditors a percentage of what is owed, and/or modify repayment terms based on what you can afford.

Debt consolidation and consumer proposals are both ways to simplify debt payments. Consolidation loans combine debts into one monthly payment, but they may have high interest rates and fees, and you must repay 100% of the debt.

Consumer proposals are administered by Licensed Insolvency Trustees and offer lower monthly payments with the possibility of reducing your unsecured debt by up to 80%. They also have more favourable terms with 0% interest.

If you don’t have joint debt, your family will not be affected. If your spouse has co-signed or endorsed your debt, they will be equally responsible. Children aren’t affected by a consumer proposal, and you’ll continue to receive child benefit payments (if applicable).