Services
Consumer Proposal
A Formal, Legally Binding Alternative to Bankruptcy
A Consumer Proposal is a formal, legally binding alternative to bankruptcy under the Bankruptcy and Insolvency Act. It lets you repay a portion of your unsecured debts through a single affordable payment over a fixed term while stopping collections and wage garnishments. You keep your assets, maintain stability, and gain breathing room. HTPA assesses suitability, designs an offer creditors are likely to accept, and coordinates filing through a Licensed Insolvency Trustee (LIT), guiding you from first consultation to completion.
Who Benefits from Consumer Proposals
Consumer Proposals are ideal for individuals who want to avoid bankruptcy while managing their debt responsibly.
Individuals with Significant Unsecured Debt
Those who can afford a realistic monthly payment but not the full balances owed to creditors.
Homeowners Seeking Asset Protection
Property owners seeking to protect home equity and other assets while resolving debt pressure.
Self-Employed or Commissioned Earners
Those needing predictable payments and protection from creditor actions while maintaining income stability.
Debtors with CRA Tax Balances
Individuals with tax debt or multiple high-interest cards who want a single structured plan.
Bankruptcy Alternatives Seekers
Those considering bankruptcy but preferring a less severe credit impact and asset-friendly solution.
Our Comprehensive Service Process
We guide you through every step of the Consumer Proposal process, from assessment to completion.
Feasibility & Capacity Review
We model income, expenses, assets, and creditor mix to confirm proposal eligibility and compare outcomes versus bankruptcy or consolidation.
- Financial capacity analysis
- Debt-to-income evaluation
- Asset protection assessment
- Comparative outcome modeling
Offer Design & Creditor Rationale
We structure an affordable monthly (or lump-sum) offer that yields creditors more than a bankruptcy would—improving acceptance odds. Special handling for CRA tax debt, joint debts, and student loans subject to statutory rules.
- Strategic offer structuring
- CRA tax debt handling
- Joint debt considerations
- Student loan compliance
LIT Coordination & Filing
Only an LIT can file and administer a Consumer Proposal; we introduce a trusted LIT, prepare the Statement of Affairs, and align timelines. Upon filing, the stay of proceedings pauses collections and garnishments while creditors vote.
- Trusted LIT referral
- Statement of Affairs preparation
- Timeline coordination
- Stay of proceedings activation
Voting, Court Approval, and Onboarding
We package supporting financials, address objections, and coordinate adjustments if needed. After approval, payments are made to the LIT and distributed to creditors.
- Financial package preparation
- Objection handling
- Approval coordination
- Payment setup assistance
Compliance & Reporting
Guidance on mandatory counselling sessions, ongoing payment discipline, and tax filings during the proposal. We help prevent technical defaults and keep your plan on track.
- Counselling session guidance
- Payment discipline support
- Tax filing coordination
- Default prevention strategies
Credit Rebuild & Aftercare
Practical steps to rebuild credit while in—and after—your proposal (budgeting, secured products, reporting hygiene), with periodic check-ins.
- Credit rebuilding strategies
- Budgeting assistance
- Secured product guidance
- Ongoing support check-ins
Why Choose HTPA for Consumer Proposals?
Our experienced team provides data-driven, ethical guidance throughout the Consumer Proposal process.
CPA-Led Modelling
Data-driven offers that balance affordability with creditor recovery—raising acceptance probability through professional financial analysis.
Ontario-Specific Guidance
Clear expectations on timelines, duties, exemptions, and CRA interactions tailored to Ontario regulations and procedures.
Transparent & Ethical
Plain-English explanations of costs and outcomes; no pressure to choose a proposal if another route is better for your situation.
End-to-End Orchestration
We manage documents, timelines, and communications so you can focus on stability and moving forward with confidence.
Important Note
HTPA provides advisory, modelling, and documentation support. Consumer Proposals are administered by Licensed Insolvency Trustees (LITs)—we offer trusted referrals and coordinate the process discreetly.
Frequently Asked Questions
Get answers to common questions about Consumer Proposals.
You repay an agreed portion over time, keep your assets, and benefit from a stay of proceedings. Credit impact is typically less severe than bankruptcy and drops off sooner after completion.
Yes—CRA participates like any other unsecured creditor. We structure your offer and documentation to address tax balances compliantly.
No. A key advantage is asset retention. As long as you maintain secured payments and comply with the proposal, you keep your property.
We can amend terms (within your affordability) to secure acceptance. If agreement isn't possible, we revisit alternatives—including bankruptcy—so you're never without a path forward.
Take Control of Your Financial Future
Contact our Consumer Proposal experts today for a confidential consultation. We'll help you explore your options and design a plan that works for your situation.
Visit Our Office
20 Bamburgh Circle, Scarborough, ON