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Reliable Consumer Proposal Services in Richmond & Greater Vancouver


A consumer Proposal is one of your options to deal with debts without going bankrupt. It is a legal debt settlement option under Canada’s Bankruptcy and Insolvency Act. One should know that such proposals can only be filed by a Consumer Proposal Administrator, not a debt consultant, accountant, or lawyer. Campbell Saunders Ltd. offers Consumer Proposal services in Richmond & Greater Vancouver to make credit repayment affordable. Our team comprises a Licensed Insolvency Trustee who can effectively manage Consumer Proposals in Canada. By assessing your finances, we can help you make a successful proposal that is legally binding on your creditors.


Still in doubt? Get in touch with us for Consumer Proposal services in Richmond & Greater Vancouver and for a free consultation.

Consumer proposal

What Is a Consumer Proposal?

A Consumer Proposal is a way of debt settlement that can help you out if you lack the resources to meet all of your debt obligations as they ordinarily become due, but have the means to offer a reduced amount either in a lump sum payment or over a period of time up to 5 years. It is a legal arrangement where you enter into an agreement with your creditors regarding more convenient payoffs that you can manage. Through the agreement, you can ultimately settle your debts by paying less than you actually owe to your creditors.


The main difference between a bankruptcy and a Consumer Proposal is that in the latter, you remain in possession of your assets and control of your financial affairs. Filing a Consumer Proposal will provide you with immediate protection from your creditors; collection calls, most garnishments, and legal proceedings will stop with certain exceptions. Creditors holding security over specific assets (i.e., mortgages, car loans) will continue to require payment from you in accordance with the specific loan agreement, or they may take steps to realize their security.


If you owe money that you cannot repay on time, it might be a favourable debt solution for you.


Contact us to know more about our Consumer Proposal services in Richmond & Greater Vancouver and whether this option would be suitable for you.

Filing a consumer proposal

What Happens When I File a Consumer Proposal?

If you are facing the risk of bankruptcy, you can reach out to a Licensed Insolvency Trustee like Campbell Saunders Ltd. to help you file a Consumer Proposal in Richmond and Greater Vancouver. They are applicable to many kinds of loans, from general consumer loans to government loans. Depending on your situation, your Consumer Proposal will allow you to make appropriate debt repayments, either as a lump sum or as multiple payments over fixed terms up to 5 years. During the repayment period, you are expected to make regular payments as per your Consumer Proposal. You will have protection from creditors who will be prohibited from charging you with changed interest rates. Throughout the repayment process, your Licensed Insolvency Trustee will act on your behalf and communicate and distribute your payments to your creditors.


Campbell Saunders Ltd. is committed to making Consumer Proposals and debt repayments in Greater Vancouver and Richmond convenient for you.

Benefits of Consumer proposal

What Are the Benefits of Consumer Proposals?

Consumer Proposals have significant advantages compared to other modes of settling your debts. Let us have a look at what these benefits are:

  • Get to keep your assets: You can keep all of your assets with this proposal, including any tax refunds, investments, and home equity. A Consumer Proposal is a viable debt consolidation option for homeowners with significant credit card balances and other unsecured loans.
  • Surplus income payment requirement can be avoided: Consumer Proposals have a fixed payment that never increases. With an increase in income in the coming future, filing it can help you avoid the said payment requirement.
  • Stay of Proceedings: In accordance with the Bankruptcy & Insolvency Act, a Consumer Proposal offers protection to debtors by putting legal procedures on hold. This stay will block collection calls as soon as you file. Once most creditors accept your proposal form, it is legally obligatory for all of them.
  • You avoid bankruptcy: Although many people need debt relief, they avoid declaring bankruptcy out of humiliation. Consumer Proposal does not affect their ability to maintain employment, which may be the case if they declare bankruptcy.

At Campbell Saunders Ltd., we are here to help you get all the benefits possible. If you are looking for Consumer Proposal services in Richmond & Greater Vancouver, trust us and call us to make your debt repayment hassle-free.

Who Can File for Consumer Proposal?

A Consumer Proposal is a legal document made between you and your creditors, and it can be filed by someone who owes between $1,000 and $250,000 (not including mortgages on their residence). If the person owes more than $250,000, they would need to go through a different process to file for a proposal. Legally married couples and business partners can also file for a proposal under a joint Consumer Proposal that requires two or more individuals who have substantially the same debts. Filing for a Consumer Proposal in Greater Vancouver is a simple process that must be done with the help of a licensed insolvency trustee



How Can Consumer Proposal Help Credit

Once a Consumer Proposal is filed, and you start making payments on it, it is noted in your credit report. Anyone with access to your credit report will be able to see that you are making your payments. Whenever you make a payment to your trustee, they will be the ones to disburse your amount to the proven creditors. Once you maintain a good payment history on debt while maintaining your Consumer Proposal, you will be able to rebuild your overall credit after some time.



Who Qualifies for Consumer Proposal

You are eligible to file Consumer Proposal in Greater Vancouver and Richmond if:

  • You can pay a portion of your total debts.
  • You are insolvent and can not repay the debt installments as they become due.
  • Your unsecured debt (excluding mortgage on principal residence) is below $250,000.
  • You have a property in Canada or are a citizen of the country.

Do I need a Consumer Proposal?

A Consumer Proposal is a viable debt solution if limited resources are not allowing you to fulfill your payoff obligations, but you can afford to pay back a certain portion. You might need it in the following cases:

  • You might need a Consumer Proposal in the following cases:
  • You are facing the risk of bankruptcy.
  • You are looking to make loan repayments more affordable to yourself.
  • You want a respite from harassing calls from your creditors.
  • You want to pause all legal actions and collection activities by your lender.

How to Make a Proposal to Creditors

Step 1: Meet with a Licensed Insolvency Trustee or Administrator to discuss your financial situation and available options.

Step 2: Provide the Licensed Insolvency Trustee or Administrator with copies of all relevant financial information and, if viable, finalizing the terms of your Consumer Proposal.

Step 3: Sign the Proposal documents, which are then filed with the Office of the Superintendent of Bankruptcy. Once your Consumer Proposal is filed, you receive immediate protection from creditors.

Step 4: The creditors receive the Proposal from the Licensed Insolvency Trustee for review. They have 45 days to reject or approve it.

Step 5: Complete Proposal payments if it is approved by the creditors to be debt-free.

What Is the Process?

 After you sign your consumer proposal, the process follows as:

The Licensed Insolvency Trustee prepares a report to your creditors that includes the causes of your financial situation and whether it supports the terms of your Consumer Proposal.

Creditors have 45 days to consider the Consumer Proposal unless a creditors’ meeting is required. If the majority vote is in favour, your Consumer Proposal is deemed accepted.

Deemed Court approval is obtained 15 days after your creditors approve the Consumer Proposal and no objection to the Consumer Proposal is filed in Court.

Upon Court approval, you will begin making payments under the terms set out in your Consumer Proposal.

You are required to attend two counselling sessions.

In a Proposal, you remain in possession of your assets and control of your financial affairs.

What Are the Key Differences Between a Consumer Proposal and Bankruptcy?

The two most popular insolvency options in Canada for an individual are bankruptcy and Consumer Proposals, so it makes sense that you want to know how they differ. Here are the key differences between the two:

Debt amount The Bankruptcy and Insolvency Act is used to file for bankruptcy. If you owe more than $1,000 and cannot pay it back, you may be entitled to file for bankruptcy.

The Bankruptcy and Insolvency Act also permits filing a Consumer Proposal; however, your debt obligations must be limited to $250,000 or less (excluding your mortgage secured by your principal residence). Your creditors are presented with a proposal to settle your debt for less than you are owed.

The period it will last for A first-time bankruptcy will take a minimum of nine months to complete, but depending on your income, it might take up to 21 months. After your bankruptcy has been completed, the record of it is in your credit report for 6 years after the bankruptcy's discharge, and for 14 years if it is your second or third bankruptcy.

Your assets Your property (passes) to the trustee in bankruptcy for the benefit of your creditors. Under a Consumer Proposal, you won’t have to give up any assets because they do not vest in the trustee. In contrast to bankruptcy, you are also allowed to manage your assets any way you see fit during a proposal.

The said procedure can continue for up to five years. The credit reporting companies will only disclose it for three years after making the final payment.


The common aspect between these two options is both of these options must be filed by a Licensed Insolvency Trustee. Connect with us, and we will advise you on the best debt solution advice available. We will look at your debt figures; if it is within 1,000, we will help you file a bankruptcy. There could be other debt settlement solutions that might be better for you. Please make an appointment with us to discuss this further.


Our Approach in Consumer Proposal

At Campbell Saunders Ltd., our licenced insolvency trustees give you confidence and peace of mind with their professional services. Our personalized approach and experience will help you start fresh and without any stress. Making sure you understand your rights, options and responsibilities, our team delivers optimal results and plans to file your Consumer Proposal in Greater Vancouver and Richmond successfully.

How Long Does It Take a Consumer Proposal to Be Removed from My Credit Report?

If you filed a Consumer Proposal, a notice indicating that you made a repayment plan with your creditors will display, along with the date you filed. This notification remains on your report for 3 years after your proposal’s completion.

We Are Your Dependable Licensed Insolvency Trustees

When you have financial difficulties and times become tough, you need experienced professionals by your side. Campbell Saunders has more than 30 years of experience in dealing with corporate and personal financial issues. Over these years, we have filed many successful consumer proposals and helped you settle your debts. As Licensed Insolvency Trustees, we are here to help you make informed decisions and ensure your peace of mind. If you want your debt issues solved, Campbell Saunders has you covered!

Understand Consumer Proposals

We are here to tell you everything you need to know when it comes to Consumer Proposals in Greater Vancouver and Richmond.

 Consumer Proposal Consultations in Richmond and Vancouver

As Licensed Insolvency Trustees, we provide free consultations to address your Consumer Proposal needs.

Want to Get out of Debt?

We provide credible Consumer Proposal Services in Richmond & Greater Vancouver, where you only pay a portion of your debt.

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