5 Facts about Ontario Consumer Proposals

5 Facts about Ontario Consumer Proposals

Choosing to file an Ontario Consumer Proposal is a big decision, and understandably you’ll have questions regarding what steps you need to take, how the process works and what will happen after it’s all said and done. Here are a few facts to consider about Ontario Consumer Proposals:


Obviously every person who files an Ontario Consumer Proposal does not have the same amount of debt as the next person, so the amount that you will ultimately pay to settle your debt depends on each specific case. However, in mostly all cases, once the consumer proposal is approved you will pay back much less than the amount that you owe your creditors.


The benefit of a Consumer Proposal is that you get to keep your assets (assuming that your offer is accepted).  This includes your home, car, cottage or any other assets that may have yet to be paid in full. The only stipulation is that you must continue to make payments (on time) on the terms that were offered and accepted by your creditors.


The only way to determine if you qualify for an Ontario consumer proposal is to sit down with a licensed trustee. The Trustees at Albert Gelman Inc. are qualified and licensed by Industry Canada to file Consumer Proposals. Give us a call and meet with us at one of our locations send us a message online and we’ll your options with you to find a solution to your financial situation.

At Albert Gelman Inc., we offer free consultations with no obligation to file with us. Come into one of our five convenient locations, and we’ll figure out if you qualify for a Consumer Proposal.


When it comes to consumer proposals, the process is really quite simple. First, we’ll work with you to come up with a proposal offer that we believe will be accepted by your creditors, but fits within the confines of your budget.  Second, we will file the consumer proposal with your creditors and lastly, when the proposal is approved, you’ll begin making monthly payments to us which we will ultimately be distributed to your creditors.

Payment Duration

Under a consumer proposal, your payment plan typically lasts for up to 60 months (five years) and there are pre-payment privileges, so if your income increases and you want to pay down your consumer proposal quicker, you can.

Do you think an Ontario consumer proposal is the right choice for you? Call us today at 1-855-654-1650, or come into one of our offices—we have five located throughout the GTA to serve you. We’ll work with you to best understand your specific financial situation and work with you to resolve it.