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Consumer Proposals in Victoria BC, Duncan, Nanaimo & Port Alberni

A Consumer Proposal is an alternative to bankruptcy that might work for you. It is a formal arrangement with your creditors. Your unsecured creditors are legally stopped from making any further collection efforts against you and you make no further payments to them. Instead you will make payments to us and then we distribute the money to your creditors. Under most Consumer Proposals you typically will pay less than the total amount of the debts that you owe, for example if your total unsecured creditors are $100,000 you might only have to pay approximately $25,000.

How Repayment Works for Consumer Proposals

Your creditors will vote to indicate whether or not they agree to accept what you are offering them. In most Proposals the amount you have to pay is made in monthly payments to us over an agreed upon period of time that is no longer than 5 years. However you can make a lump sum payment or a combination of a lump sum payment and monthly payments. We will discuss all the possibilities with you when you meet with us.

Do You Qualify to Make a Consumer Proposal?

Do you want to explore the possibility of making a Consumer Proposal? We can help you with a consumer proposal if:

  • Your total debts (not including mortgages on principal residence) are under $250,000.
  • You have sufficient income to make scheduled payments or can make a one-time, lump-sum payment to your creditors.

A properly structured, negotiated and creditor-accepted Consumer Proposal will offer numerous advantages, including:

  • A Proposal is a viable alternative to bankruptcy.
  • Creditors receive more money than if you went bankrupt.
  • And you, the debtor, having met your obligations as defined in the Proposal, will have your liabilities extinguished.

Grant Thornton Limited will work with you to draft the best possible Proposal to present to your creditors. A Consumer Proposal could be your first step toward financial freedom.

Please contact us at one of our four Vancouver Island locations to make an appointment for a free initial consultation.


823 Canada Ave, Duncan, BC, V9L 1V2

Email our Duncan office


901-747 Fort Street, Victoria, BC, V8W 3E9

Email our Victoria office


30 Front Street, Nanaimo, BC, V9R 5H7

Email our Nanaimo office

Port Alberni

4594 Merrifield Road, Port Alberni, BC, V9Y 6R4

Email our Port Alberni office


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