Many people in Peterborough choose a consumer proposal because it offers a clear, structured way to deal with rising debt, and it works whether you’re comparing the advantages, understanding whats the total cost, or exploring if you qualify for a proposal.

A proposal lets you reduce unsecured debt, stop collection calls immediately, and protect your wages, while still keeping important assets such as your home, car, and tools of the trade.

Across Peterborough neighbourhoods—from Lansdowne Street to the North End and surrounding Kawartha communities—residents appreciate that a consumer proposal replaces overwhelming bills with one affordable monthly payment.

It’s a trusted alternative to bankruptcy and works well for those dealing with

• lines of credit,
• bank loans,
• payday loans, or
• CRA tax debt.

This option is popular because it provides real financial relief. Many local residents choose a proposal to:

• Stop interest immediately through a federally legislated process
• Reduce total debt by up to 70% depending on income and assets
• Avoid bankruptcy while keeping key personal and household assets

These benefits provide long-term stability and make it easier for Peterborough families to rebuild with confidence.

While we focus on consumer proposals as the most effective solution for Peterborough residents, our Licensed Insolvency Trustees also assist with bankruptcy for clients who need it.

Most people learn how to file a consumer proposal, through our trustees, who will explain the simple, government-regulated steps involved. Starting a proposal in Peterborough is easier than many residents expect — there are no upfront fees, no court appearances, and no need to negotiate with creditors yourself. Everything is guided by a Licensed Insolvency Trustee from start to finish.

You might wonder what the timeline is for a consumer proposal and how quickly collections stop. In most cases, interest ends immediately and collection agencies must stop calling the moment your proposal is filed.

People comparing who qualifies for a consumer proposal often discover that starting the process begins with a confidential financial review. This includes your income, household budget, debts, assets, and any collections or lawsuits pending in the Peterborough area. Once your situation is assessed, your Trustee prepares a fair, affordable monthly payment based on what you can truly afford.

Homeowners and renters evaluating how proposal payments are calculated also learn that creditors vote on your proposal electronically. In over 95% of cases, proposals are accepted because creditors earn more through a proposal than through bankruptcy.

To get started in Peterborough, residents simply:

• Book a confidential, no-cost consultation
• Review their debts, income, and assets with a Trustee
• Sign the proposal electronically or in person
• Have all collections, lawsuits, and interest stop immediately

This makes starting a consumer proposal one of the most accessible, stress-free ways for Peterborough residents to regain control of their finances.

The steps to file a consumer proposal, are simple, regulated, and designed to give you immediate protection from creditors. A proposal allows you to consolidate your unsecured debts into one affordable monthly payment, stop interest instantly, and keep important assets such as your home, vehicle, and personal belongings.

As well, the key advantages of a consumer proposal to other debt relief options and quickly discover why it is the most common solution in Scarborough. Once filed by your Licensed Insolvency Trustee, all collection calls, wage garnishments, and lawsuits stop under federal law, giving Scarborough residents immediate breathing room from financial pressure.

Homeowners and renters often begin by examining how consumer proposal payments are calculated, since your monthly payment is based entirely on income, household needs, and what creditors would receive in bankruptcy. In most Scarborough cases, monthly payments are significantly lower than what residents pay on credit cards, lines of credit, tax debt, or payday loans.

Most people qualify for a consumer proposal and anyone with more debt than they can reasonably repay is eligible. Whether you live in Agincourt, Malvern, Wexford, or Guildwood, the process works the same: your Trustee reviews your finances, prepares a fair offer, and files it electronically so all collections stop right away.

People looking into the consumer proposal timeline also appreciate how predictable the process is. Once filed:

• All interest stops immediately
• All collection agencies must cease contact
• All wage garnishments end
• All lawsuits and legal actions are frozen