Consumer Proposal Smiths Falls
A consumer proposal can cut your unsecured debt by up to 80%, stop creditor calls the day it’s filed and let you keep your home and car.
Our Licensed Insolvency Trustees help people across Smiths Falls, from downtown and the Rideau Canal waterfront to the surrounding townships of Montague and Rideau Lakes, with free, confidential consultations by video or phone.
The sooner you act, the more options you have.
Safe, secure & confidential
How does a consumer proposal work in Smiths Falls?
A consumer proposal in Smiths Falls works through a Licensed Insolvency Trustee (LIT), who files a legally binding offer to your creditors to repay part of your unsecured debt. It can cut what you owe by up to 80%, and the federal Bankruptcy and Insolvency Act sets the same rules across Canada.
You make one fixed, interest-free monthly payment for up to five years and keep your home, car and other assets. Once your trustee files, collection calls, interest charges and wage garnishments stop.
Who qualifies for a consumer proposal in Smiths Falls?
You qualify for a consumer proposal if you owe between $1,000 and $250,000 in unsecured debt and can’t repay it in full but can afford a regular monthly payment.
You also need to:
- Be an individual, not a corporation.
- Live in Canada or own property in Canada.
- Be at least 18 years old.
The $250,000 limit excludes your mortgage. If you don’t qualify, see our other debt relief options in Smiths Falls, or we will assess your situation for free.
What do clients say about our consumer proposal service?
Clients rate Harris & Partners 4.8 out of 5 from more than 2,200 Google reviews and “Excellent” on Trustpilot, for clear advice and judgment-free support.
Based on OSB data, most people in Smiths Falls choose a consumer proposal over bankruptcy.
Among those facing insolvency, it's how most clear debt and keep their home.
Among those facing insolvency, it's how most clear debt and keep their home.
Consumer proposal vs bankruptcy vs debt consolidation: Which is right for you?
A consumer proposal in Smiths Falls reduces your debt while you keep your assets, bankruptcy clears more debt but may cost you assets, and debt consolidation is a new loan that doesn’t reduce what you owe.
The right choice depends on your income, assets, and total debt, and a trustee will walk you through all three.
| Consumer proposal | Bankruptcy | Debt consolidation | |
|---|---|---|---|
| Reduces debt? | Yes, up to 80% | Yes, most debt cleared | No |
| New loan needed? | No | No | Yes |
| Interest | 0% | 0% | Variable, often high |
| Stops collection calls? | Yes, on filing | Yes, on filing | No |
| Your assets | Keep all assets | May lose some assets | Keep all assets |
| Credit report | R7 until 3 years after completion or 6 years after filing, whichever comes first | R9 for 6–7 years after discharge (first bankruptcy) | Depends on repayment history |
| Government-regulated? | Yes | Yes | No |
How could a consumer proposal help you in Smiths Falls?
A consumer proposal in Smiths Falls could cut your debt, stop creditors chasing you, and let you keep your assets, all through one interest-free monthly payment.
- Reduce your debt by up to 80%: Creditors often accept significantly less than the full balance.
- Stop creditors the day you file: Collection calls and wage garnishments must stop, with legal protection under the Bankruptcy and Insolvency Act.
- Keep your home, car and other assets: You don’t surrender property, unlike in bankruptcy.
- One interest-free payment every month: Interest freezes on filing, and your trustee sets the payment around your budget, spread over up to five years.
- Qualify easily, with a high approval rate: There’s no credit check, and 9 in 10 proposals we file are accepted by creditors.
How to file a consumer proposal in Smiths Falls
A consumer proposal in Smiths Falls has four main stages, from a free consultation with a Licensed Insolvency Trustee to a Certificate of Full Performance once your payments and counselling are complete.
- 1. Book a free consultation: A trustee reviews your debts, income and assets and explains every option, not just consumer proposals. It takes under an hour, and you have no obligation to commit.
- 2. Draft and file your proposal: If a proposal suits you, we prepare it with a monthly payment you can afford and file it with the Office of the Superintendent of Bankruptcy. Collection calls, interest and wage garnishments stop immediately.
- 3. Creditors vote: Creditors have 45 days to respond. If creditors holding the majority of your debt by value accept, the proposal binds all of them.
- 4. Make your payments and finish the program: You pay your trustee once a month for up to five years and attend two financial counselling sessions. After your last payment, you receive a Certificate of Full Performance and the included debts are cleared.
Why choose Harris & Partners for your consumer proposal in Smiths Falls?
We’ve helped Canadians get out of debt since 1964, with plain-English advice from people who care about your financial stability. There are no intimidating offices and no legal jargon.
We’re one of Canada’s largest insolvency filers, with more than 100 years of combined trustee experience and long-standing creditor relationships that help get proposals approved.
Smiths Falls residents who file with us can legally reduce their unsecured debt by up to 80% and repay the rest in affordable instalments.
Why choose Harris & Partners for your consumer proposal in Smiths Falls?
How much could you save with a consumer proposal?
In this example, a consumer proposal cuts monthly repayments on $38,290 of debt from $1,409 to $210 over 60 months.
Repayments over 60 months
Before help
$1,409
After help
$210
Example only; your payment depends on your income, assets and debts.
Estimate your monthly payment
What types of debt are covered by consumer proposals in Smiths Falls?
A consumer proposal can include most unsecured debts, combining them into one interest-free monthly payment:
- Credit cards – balances across any number of cards
- Payday loans – ending the borrowing cycle
- Personal loans and lines of credit – from banks or private lenders
- CRA tax debt – income tax arrears, GST/HST you owe personally and CERB overpayments
- Student loans – once seven years have passed since you left school
- Medical bills and utility arrears – including unpaid hydro and gas
Mortgages and car loans are secured debts, so they stay outside the proposal. Filing does stop wage garnishments from your unsecured creditors, which makes it easier to keep up those secured payments.
Where is our nearest office to Smiths Falls?
Our nearest office to Smiths Falls is in downtown Ottawa, at 116 Albert St, [Suite 300 / 2nd Floor], Ottawa, ON K1P 5G3.
Many Smiths Falls clients meet their trustee by video or phone.
Meet your Licensed Insolvency Trustee
Joshua Harris is a Licensed Insolvency Trustee and Partner at Harris & Partners, and the trustee for our Ottawa office, which serves Smiths Falls.
He’s the third generation of his family to work as a trustee at the firm, after his grandfather and father. He holds a Master’s degree in International Business, became a Chartered Insolvency and Restructuring Professional (CIRP) in 2018 and a Licensed Insolvency Trustee in 2020.
Address
116 Albert St, Suite 300 / 2nd Floor, Ottawa, ON K1P 5G3
How to get there
By car: From Smiths Falls, take Highway 15 north to Highway 7, then head east on Highway 7 and Highway 417 into downtown Ottawa. The drive takes about an hour.
By train: VIA Rail runs from Smiths Falls to Ottawa Station. From there, take O-Train Line 1 from Tremblay station to Parliament station, a short walk from the office.
Office hours
Monday to Friday: 09:00-17:00 (by appointment only)
Smiths Falls consumer proposal FAQs
These answers cover the questions Smiths Falls residents ask most about consumer proposals, from tax debt and credit ratings to cost.
Do I have to go to court for a consumer proposal in Smiths Falls?
Most consumer proposals in Smiths Falls never go to court. Your trustee files the proposal with the Office of the Superintendent of Bankruptcy, and if your creditors accept it and nobody asks for a court review within 15 days, the court treats it as approved. Only the official receiver or another interested party can request that review.
How much does a consumer proposal cost in Smiths Falls?
There’s nothing to pay upfront for a consumer proposal in Smiths Falls – federal rules set the trustee’s fees, and they come out of the monthly payments in your proposal. The amount you repay depends on your income, assets and household costs over the following five years. Both required counselling sessions are included.
Can I include CRA tax debt in a consumer proposal in Smiths Falls?
Most CRA debt can go into a consumer proposal in Smiths Falls, including unpaid personal income tax, personal GST/HST and CPP or EI overpayments. The CRA votes on your proposal like any other unsecured creditor, and filing halts CRA wage garnishments and bank account freezes.
How long does a consumer proposal stay on my credit report in Smiths Falls?
A consumer proposal in Smiths Falls stays on your credit report as an R7 rating until three years after your final payment or six years after filing, whichever comes first. That’s a shorter and milder mark than the R9 rating for bankruptcy, and most people’s scores start recovering once regular payments are underway.