A Consumer Proposal in Ontario lets you cut your debt, stop interest, and protect your income.
With over 25 years of experience, Yanch Dey & Associates gives you a safe, government-approved solution with no upfront costs to rebuild your financial future.
The main benefits of a consumer proposal are simple.
Consumer proposals avoid the need to file for bankruptcy. As well a proposal dramatically reduces all unsecured debt saving you thousands of dollars.
This includes tax debt, long-standing student loans, high-interest credit card balances, expensive payday loans, and even negative bank overdrafts.
In a consumer proposal all of your debts are put together, the proposal reduces the debt by 70% or more, then that amount is paid over a 5 year period without interest, penalties or fees.
Our team of insolvency trustees takes the lead and guides you through each part of the process.
We explain to you how a consumer proposal works in Ontario and how you qualify to file. We can even break down the common myths people believe and explain what happens after your proposal is completed.
Once your consumer proposal is finished your credit score will improve dramatically as well as your quality of life. The advantages of a consumer proposal far outweigh any other debt relief options.
A consumer proposal follows a simple and predictable process for everyone.
You start a consumer proposal by calling or coming to our office to have a discussion with an Insolvency Trustee. In Ontario, an insolvency trustees job is to explain to you the debt relief options available and should you proceed to guide and assist you through the process.
In a consumer proposal the trustee does all the paperwork, legal documents and they deal with your banks credit card companies and creditors, not you. The trustee is there to help you, file all paperwork and deal with your creditors. We’ll do everything for you.
Where you decide on a consumer proposal, our trustees will,
It’s the trustee job to explain the full proposal process from start to finish, so you know what to expect, whilst answering any questions you have.
If and when you decide to proceed, the trustee prepares the proposal for you. The trustee submits the proposal to government and your creditors (the people owed). Once the proposal is submitted all interest, payments and collection activity must stop immediately, under whats called a federal “stay of proceedings”.
Your creditors then vote on the offer. Most proposals are accepted because creditors receive more money than if you file for bankruptcy. The full approval process is outlined in our consumer proposal timeline.
Once a consumer proposal is filed, your life becomes much dramatically easier. You make one affordable payment each month to the trustee.
Your trustee calculates this amount by reviewing:
After the consumer proposal is approval, you attend two short counselling sessions and continue your monthly payments until the proposal is complete. Once your proposal is completed, unsecured debt is legally eliminated and your credit ratings will start to improve.
This is why many people choose a proposal after learning who qualifies to file and how each step protects their income and assets.
All unsecured debts, credit cards and unsecured loans can be applied to a consumer proposal, getting you completely debt free in 5 years or less!
A consumer proposal deals with almost every type of unsecured debt.
Unsecured debts are debts or loans, including credit cards that are not tied to an asset, which makes them easier to settle through a proposal.
Most people are surprised at how many accounts can be included. The process covers everyday obligations like credit card balances, high-interest payday loans, and long-standing student loans.
You can also include tax debts owed to the government.
Many people use a proposal to deal with CRA tax debt or overpayments from government programs. These debts grow quickly with penalties and interest, which makes federal protection extremely valuable.
Proposals also help with bank-related debts. This can include
Your bank debts are covered in the same way as other unsecured accounts, as explained in our guide to bank loans and overdrafts.
All of these debts are placed into one affordable monthly payment. That makes it easier to manage your finances while your interest is frozen and your creditors are legally stopped from contacting you. If you want to see which creditors must be included, you can review how creditors are handled inside a proposal.
Most people qualify for a consumer proposal. in Ontario because the requirements are simple and flexible.
You can file a proposal if you:
If you’re wondering whether a proposal is right for you, just reach out give us a call — we’re happy to look at your situation and explain your options in plain language.
★★★★★ As interest rates rose so did our mortgage and bills. We were slowly sinking more and more into debt. When it hit 30,000 we had to do something. YanchDey were local so I gave them a call. Best thing I did in years. Our debt was slashed down to 7k with a monthly payment of $120/month! Thank You YanchDey. Mike Paczek, Pickering
You can file a consumer proposal in Ontario at no additional cost to you!
There are no setup fees, no consultation charges, and no surprise costs. Everything is included in a single monthly payment, making a proposal one of the most affordable debt solutions available.
Your trustee reviews your budget and sets a payment that already includes:
You never pay extra, and you never pay out-of-pocket. We explain this fully when we break down the cost of a consumer proposal and how every fee is built into your plan.
Because the proposal freezes interest and reduces what you owe, most people find their monthly payment is far lower than what they were trying to pay before. This makes it easier to manage your finances while you work toward becoming debt-free.
If you’re feeling overwhelmed by debt and not sure where to start, the best thing you can do is talk to someone who understands.
Call now and speak directly with me — Kelly Dey — for clear, honest advice that’s tailored to your situation. There’s no pressure and no judgment. We’ll look at your options together and create a plan that helps you breathe again. Getting started is easier than you think, and one simple conversation can put you back in control of your money and your life.
Let’s take that first step today.
A consumer proposal is a legal agreement that helps you deal with your debt in a safer, easier way.
It’s filed through a Licensed Insolvency Trustee and lets you combine your unsecured debts into one affordable monthly payment. Interest stops right away, and you usually repay only a portion of what you owe — often as little as 20–30%. Once the proposal is accepted, your creditors must follow the terms, and you stay fully protected while you pay it off.
A. Consumer proposals have no upfront fees, and you only pay one fixed monthly amount that fits your budget. The trustee’s fees are built into that payment, so there are no extra charges or surprises. Most people end up paying back only a portion of what they owe — often far less than the full balance — with all interest and penalties stopped the moment the proposal is filed.
A. Most unsecured debts can be included, such as credit cards, payday loans, bank loans, overdrafts, tax debt, and some student loans.
We explain each type of debt in our section on creditors you can include.
A. Yes. A consumer proposal does not take away your home, car, or any of your personal assets. As long as you keep making your regular mortgage or car loan payments, you keep everything you own. This is one of the biggest advantages of a proposal compared to bankruptcy.
A proposal lets you deal with your debt while staying in full control of your belongings and your everyday life.
A. Yes. Collection calls, letters, lawsuits, and wage garnishments must stop immediately once the proposal is filed.
This protection is part of the federal stay of proceedings and is explained in how interest stops inside a proposal.
A. Most proposals are approved within 45 days. Payments can last up to five years, depending on your situation.
The full timeline is outlined in our guide to the consumer proposal timeline.
Your remaining unsecured debt is eliminated, and you receive a certificate of full performance.
You can then rebuild your credit and move forward. Details are provided in our page on what happens after a proposal.
Insolvency Trustee – Kelly Dey
If you’re feeling weighed down by money or debt issues, give me a call at 905-721-7506 and lets just have conversation.
Table of Contents
Pauline Vorvis
3 days ago
★★★★★ We had 23,000 in credit card debt that I was never going to pay off. My new loan is now $7,000 and pay $195 over three years. Thank you so much.
Randy Singh
7 days ago
★★★★★ My husband’s paycheck was garnisheed, we owed 36,000. The consumer proposal, stopped the garnishment, and reduced our debt to 10,000. So thankful we called.
Debbie Theriault
2 weeks ago
★★★★★ I needed to get out of debt. I still had student-loans after 10 years and was sick of borrowing money. I thought I’d have to file for bankruptcy, but they explained how they could get me out of debt and save thousands. My life has changed, I can sleep and have control of my finances. With the consumer proposal I’m debt free, I even appreciated the debt counselling. No consumer credit and struggling with debt for me. God bless!
Christien Egistone
4 weeks ago
★★★★★ Thank you, I will have me out of debt in 3 years and save 15k, I’ll never have credit card debt like that again, I appreciate your help and will refer and recommend you to friends.
Danny Demers
1 month ago
★★★★★ I was very pleased the way they handled my creditors. I ended up paying a fraction of what I owed on my debt.
Rise Above Your Debt!
Call 905-721-7506
