Consumer Proposal Barrie
Reduce what you owe, keep your assets, and start moving forward with a consumer proposal in Barrie. Our Licensed Insolvency Trustees in Barrie offer free, confidential consultations to help you understand whether a consumer proposal is right for you.
The sooner you act, the more options you have.Â
Safe, secure & confidential
What is a consumer proposal in Barrie?
A consumer proposal is a federally regulated, legally binding agreement to repay a portion of what you owe. It’s filed through a Licensed Insolvency Trustee (LIT) under the Bankruptcy and Insolvency Act, and it can reduce your unsecured debt by up to 80%.
Unlike bankruptcy, you keep your home, car, and other assets. And compared to debt consolidation, there’s no new loan to take on and no minimum credit score required. You make one fixed monthly payment, interest-free, for up to five years.
It applies to most unsecured debts: credit cards, payday loans, personal loans, lines of credit, CRA tax debt, and certain student loans. Once filed, all collection calls, interest charges, and wage garnishments stop.
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Is a consumer proposal right for you in Barrie?
You may qualify for a consumer proposal in Barrie if:Â
- Â You owe between $1,000 and $250,000 in unsecured debt (excluding your mortgage)
- Â You are a Canadian resident or own property in Canada
- Â You are an individual (not a corporation)
- Â You are at least 18 years old
- Â You cannot fully repay your debts as they fall due, but you can afford some monthly payment
If you’re not sure whether you qualify, our Barrie team will assess your situation at no cost.
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We've helped 100s of Barrie residents file consumer proposals
Ontario saw over 14,000 insolvency filings between January & March 2026.
More than 11,000 of these were for a consumer proposal.
More than 11,000 of these were for a consumer proposal.
Consumer proposal vs bankruptcy vs debt consolidation Barrie
For many people in Barrie dealing with large amounts of unsecured debt, a consumer proposal can be a practical way to reduce what they owe while keeping important assets like their home or car. It also provides legal protection from creditors, giving you breathing room to get your finances back on track. It’s one of the most popular debt relief options in Ontario because it helps balance debt reduction with asset protection. That said, everyone’s situation is different, so it’s important to look at all your options before making a decision. Understanding what’s available can help you choose the solution that’s right for your financial future.
| Consumer proposal | Bankruptcy | Debt consolidation | |
|---|---|---|---|
| Reduces debt? | Yes, up to 80% | Yes, most debt eliminated | No |
| Requires new loan? | No | No | Yes |
| Interest rate | 0% | 0% | Variable, often high |
| Stops collection calls? | Yes, immediately | Yes, immediately | No |
| Impact on assets | Keep all assets | May lose assets | Keep all assets |
| Impact on credit score | R7 for 3 years post-completion or 6 years after filing | R9 for 6-7 years post-discharge | Depends on payments |
| Government-regulated? | Yes | Yes | No |
What are the benefits of a consumer proposal in Barrie?
Consumer Proposals in Barrie are a practical way to get out of debt while keeping your financial stability. Here’s how this government-regulated debt relief solution can help you take back financial control:
- Reduce your debt by up to 80%. Creditors often accept significantly less than the full balance owed, helping you settle debt faster.
- Stop collection calls and wage garnishments immediately. Legal protection begins the moment your proposal is filed with a Licensed Insolvency Trustee.
- Keep your home, car, and assets. Unlike bankruptcy, a consumer proposal doesn’t require surrendering your property.
- Pay 0% interest. All interest charges are frozen once the proposal is filed, so every payment reduces your principal.
- One affordable monthly payment based on what you can realistically afford, spread over up to five years.
- No credit check required to qualify. Eligibility is based on your debt situation, not your credit score.
- Over 98% acceptance rate. Consumer proposals are a proven, high-success debt solution trusted across Ontario.
- Government-regulated and legally binding. Your proposal is filed under the Bankruptcy and Insolvency Act, giving you full legal protection.
How to file a consumer proposal in Barrie: step-by-step
- Â Step 1: Free, confidential consultation Meet with our Licensed Insolvency Trustee in Barrie to review your debts, income, and assets. No obligation, no judgment. The consultation takes less than an hour and is completely free.
- Step 2: Review your options Your LIT will walk you through every available debt relief option, not just consumer proposals, to ensure you receive the right solution for your situation.
- Step 3: Draft your proposal If a consumer proposal is the right route, we prepare the proposal documents and calculate a fair monthly payment based on what you can realistically afford.
- Step 4: File with the government We submit the proposal to your creditors via the Office of the Superintendent of Bankruptcy. Collection calls, interest, and wage garnishments stop immediately.
- Step 5: Creditors vote Creditors have 45 days to review and vote. If creditors holding the majority of the debt accept, the proposal becomes binding on all of them, including those who voted against.
- Step 6: Make monthly payments One simple payment each month to your LIT, who distributes the funds to your creditors. Payments continue for up to five years.Â
- Step 7: Complete the programme Two mandatory financial counselling sessions help you rebuild your finances. Once all payments are made, you receive a Certificate of Completion and are legally debt-free.
Why choose Harris & Partners for your consumer proposal in Barrie?
We’ve been helping Canadian families get out of debt since 1964. With us, there are no intimidating offices or confusing legal jargon, just honest advice from people who genuinely care about your financial stability.
As one of Canada’s largest insolvency filers, you can count on our 100+ years of combined experience and strong creditor relationships to get your consumer proposal approved. We’ll get you on a path to living debt-free.
Barrie residents who file a consumer proposal with us can legally reduce what they owe by up to 80%, paying off the remainder in affordable instalments. Give us a call and we’ll find the right consumer proposal terms for your situation.
See how much you could save with a Consumer Proposal in Ontario
Your Potential Debts:
Your monthly repayments over a 60-month period would be
Before Help
$1409
After Help
$210
Monthly payments are determined based on individual financial factors
How Much Could I Save?
What types of debt are covered by consumer proposals Barrie?
A consumer proposal lets you roll most unsecured debts into a single, affordable monthly payment. If any of the following are keeping you up at night, a consumer proposal could be the fresh start you need.
- Credit card debt – Get out from under high-interest balances across multiple cards
- Payday loans and wage garnishments – Break the borrowing cycle and protect your paycheque
- Personal loans and lines of credit – Combine what you owe to banks or private lenders into one payment
- CRA tax debt – Settle income tax arrears, GST/HST owing, and CERB overpayments
- Student loan debt – Eligible once seven or more years have passed since you finished school
- Medical bills – Address lingering healthcare costs where applicable
- Utility arrears – Include unpaid hydro, gas, or other utility balances
Your mortgage and car loan are secured debts, so they won’t be part of the proposal. The good news? Filing gives you the breathing room to stay current on those payments and hold onto what matters most.
Our Barrie office
We have offices across Ontario, the closest one to you in Barrie is:
49 High St 3rd floor, Barrie, ON L4N 5J4, Canada
Your estate manager in Barrie
Joshua joined Harris & Partners in 2016 after completing his Master’s Degree in International Business. In 2018 he became a Chartered Insolvency and Restructuring Professional (CIRP), and a Licensed Insolvency Trustee (LIT) in 2020.
He is a third generation LIT following in his grandfather and father’s footsteps. He manages the firm’s advertising, technology and leads the intake initiative.
Address
49 High St 3rd floor, Barrie, ON L4N 5J4, Canada
Office hours
By appointment only:
Monday: 09:00 AM – 05:00 PM
Tuesday: 09:00 AM – 05:00 PM
Wednesday: 09:00 AM – 05:00 PM
Thursday: 09:00 AM – 05:00 PM
Friday: 09:00 AM – 05:00 PM
Barrie consumer proposal FAQs
Can I include CRA tax debt in a consumer proposal in Barrie?
Yes. CRA tax debt, including income tax arrears, GST/HST balances, and CERB overpayments, can be included in a consumer proposal. Filing immediately stops CRA collection actions like wage garnishments and bank account freezes. A Licensed Insolvency Trustee negotiates directly with the CRA on your behalf as part of the proposal process.
Does a consumer proposal affect your credit rating in Barrie?
Yes. It is recorded as an R7 rating and remains on your credit report for three years after completion, or six years from the filing date, whichever comes first. However, most people’s credit is already impacted before filing. Completing a proposal lets you begin rebuilding credit immediately afterwards.
How do I do a consumer proposal in Barrie?
A consumer proposal in Barrie can only be set up by a Licensed Insolvency Trustee (LIT). You start by booking a free consultation. Your LIT reviews your debts, drafts a repayment offer for your creditors, files the proposal with the government, and manages the entire process on your behalf. Most proposals take three to five years to complete.
How much does a consumer proposal cost in Barrie?
The cost of a consumer proposal is based solely on the negotiated repayment amount, typically far less than the original debt owed. Administration fees are regulated by the federal government and included within your proposal payments. There are no upfront costs, and your LIT will outline all costs clearly before you agree to anything.
What is the downside of a consumer proposal?
The main disadvantages are the impact on your credit rating (R7 for three years post-completion) and the fact that a consumer proposal typically takes three to five years. It is also only available for unsecured debts of $250,000 or less. Compared to bankruptcy, however, a consumer proposal lets you keep your assets and maintain greater financial control.
Browse Debt Review Options in Canada
Take back control with a consumer proposal in Ontario
It’s never too late to get help with your debt. Book a free, no-obligation consultation with our Licensed Insolvency Trustees in Ontario to get started.
It's never too late to obtain debt help. Book your free consultation today
- Phone number
- 800-268-8093
- hello@harrispartners.ca