The timeline in a consumer proposal is easier than most people expect.
A consumer proposal is a legal repayment plan that protects you from interest and collections while lowering what you owe. Our trustees walk you through each step so you always know what happens next and how long it takes.
The first step in the consumer proposal timeline is meeting with a trustee to review your financial situation.
This meeting is free and helps you understand how consumer proposals work and whether they fit your goals. You learn about unsecured debt, which includes credit cards, lines of credit, and tax balances.
These debts form the basis of your proposal, and they are treated differently from secured loans like mortgages or car financing.
You start with a simple conversation. The trustees ask about your income, bills, assets, and creditors. This step usually takes 30 to 45 minutes. Many clients feel relief at this stage because they finally see a clear path forward and understand how the timeline will unfold.
Once you choose to move ahead, the trustees prepare the documents.
This includes listing each creditor, confirming your debts, and outlining your monthly payment. Preparation happens quickly, often within a day.
Key items covered include:
These details are reviewed with you before anything is filed.
When the proposal is filed, everything changes instantly. A legal stay of proceedings begins the moment the papers are submitted.
This stop-order prevents:
Most clients experience a noticeable sense of relief at this point because they are fully protected.
Creditors have 45 days to vote on your proposal.
During this period, you make your first payment and attend two short financial counselling sessions. These sessions are practical and focus on budgeting, rebuilding credit, and planning ahead.
Once approved, you follow the payment plan agreed to in the proposal.
Payments stay fixed for the full term, giving you stability and predictability. You can pay monthly or in a lump sum, and you can pay it off early if you choose.
When your final payment is made, your proposal is complete.
The remaining unsecured debt included in the agreement is legally cleared. You receive a Certificate of Full Performance confirming you have fulfilled your obligations.
Most proposals follow a consistent path:
This simple timeline helps you see exactly where you are and what comes next as you work through the process.
From the first meeting to final discharge, Yanch Dey guides you at every step.
Our trustees make the process clear, simple, and predictable, ensuring your proposal is filed correctly and on time. The timeline may seem overwhelming at first, but with support, it becomes a straightforward path to financial recovery.
This consumer proposal calculator shows an approximate of how much you could save.
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, call 905-721-7506.
A. The full consumer proposal timeline usually runs between three and five years, depending on the payment plan you choose.
But the early stages move fast. Most people complete their consultation, document preparation, and filing within a few days. Once filed, protection begins instantly and creditors have 45 days to vote.
A. Protection begins the moment your proposal is filed.
This includes stopping wage garnishments, freezing interest, and ending collection calls. This immediate stay of proceedings is one of the most important parts of the consumer proposal timeline.
A. Creditors have 45 days to vote.
Most votes come in early, and most proposals are accepted without any meetings. If a meeting is required, it usually happens around day 45 and is handled by the trustee, not by you.
A. Yes. You can pay off your proposal early with no penalty.
Many clients complete a five-year proposal in two or three years simply by making extra payments. Early completion clears your unsecured debt sooner and helps you rebuild faster.
A. You receive a Certificate of Full Performance, confirming that you completed all required payments and counselling sessions.
Once issued, your unsecured debts included in the proposal are legally discharged, and you move forward debt-free.
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.
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Evan J.
3 days ago
★★★★★ The garnishment was drowning me. They filed the proposal and the deduction stopped before my next paycheque. Total relief.
Michelle R.
1 week ago
★★★★★ I didn’t know how I was going to survive losing 20% of my pay. The proposal froze everything and cut my debt down to something manageable.
Lucas G.
2 weeks ago
★★★★★ My bank froze my account after a judgment. The proposal reversed it and protected my income instantly.
Rita V.
3 weeks ago
★★★★★ Once payroll got the notice, the garnishment stopped. I finally had my full paycheque back.
Tom K.
1 month ago
★★★★★ I was desperate. They explained everything clearly and acted fast. The proposal saved me from sinking.
Rise Above Your Debt!
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