Consumer Proposal Process

  • What is a Consumer Proposal?
  • How do you qualify?
  • Is a proposal the same thing as bankruptcy?
  • How does a consumer proposal effect my credit and assets?

A consumer proposal is a formal settlement to your creditors where you can agree to pay an amount less than what you owe them, or to pay amounts back over a longer period of time. We assist you in calculating a reasonable offer that you can afford, and The Fryzuk Group will then put this offer before your creditors so that they can decide whether to accept your offer. If your consumer proposal is accepted, interest on amounts owed is stopped, and you are protected throughout the process by your Licensed Insolvency Trustee and the powers afforded by Canadian laws.

Learn More About Your Options

We have helped many Albertans avoid bankruptcy by using this debt settlement arrangement.

Many people want to know, exactly what is a consumer proposal?
A consumer proposal is NOT a bankruptcy, though the legislation that governs it is the Bankruptcy and Insolvency Act. It is a legal deal where you make an offer to all of your creditors to settle the amount you owe them, for typically less than you owe them. As long as you have the ability to re-pay a portion of your debt, and you don’t owe more than $250,000 (not including your mortgage) you may qualify to file a consumer proposal.

The cost of filing this proposal depends on the amount settled on with your creditors. Once you agree on an figure, a fixed monthly amount is established and that amount must be paid each month until the proposal is paid in full. Because a proposal can be spread out over a longer term (up to 5 years), the payments are often more affordable than a bankruptcy, and less than what you are currently paying to reduce your debt.

In a consumer proposal, you are not required to surrender any assets.

Filing a consumer proposal will impact your credit report in that an R7 rating will be reported. This will stay on your credit report for up to 3 years from the date you complete your proposal. We work with you throughout the proposal to discuss how to increase and rebuild your credit score. Most people we work with find that their ability to obtain credit is better after filing with us and completing the process than before. In most cases, we can create a plan that allows you to keep your assets and minimize the disruption to your day-to-day life through a consumer proposal.

More Consumer Proposal FAQs

Starting today means recovering from debt sooner.

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The sign you are looking for is right in front of you! Get started today and make your time your own again.

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The relief you need...

...With a plan you can manage.
Discussing your situation with us is the first step towards getting back on track.

    How Can We Help?

    Discuss your situation for free with an Alberta-based Licensed Insolvency Trustee who understands what you need, and how to provide debt help right away.

    When faced with a bankruptcy or a consumer proposal, there is a lot to consider.
    Contacting a Licensed Insolvency Trustee is a great place to start.

    The Fryzuk Group is here to help.
    We start by discussing your situation confidentially, and then guide you through your options to build a plan that works. Please reach out and let us know that you are interested in becoming debt free. You can do this by calling us at 403-561-8228, texting us at 587-438-9786 or emailing

    Let's get started, contact The Fryzuk Group, Licensed Insolvency Trustees, for a free and confidential discussion