Consumer Proposal Thunder Bay
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 Thunder Bay, from Port Arthur and Current River to Intercity, Fort William and Westfort, with free, confidential consultations at our office on Red River Road.
The sooner you act, the more options you have.
Safe, secure & confidential
How does a consumer proposal work in Thunder Bay?
A consumer proposal in Thunder Bay 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 Thunder Bay?
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 Thunder Bay, 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, more than 3 in 4 people in Thunder Bay 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 Thunder Bay 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 Thunder Bay?
A consumer proposal in Thunder Bay 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 Thunder Bay
A consumer proposal in Thunder Bay 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 Thunder Bay?
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.
Thunder Bay 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 Thunder Bay?
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 Thunder Bay?
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 Thunder Bay office?
Our Thunder Bay office is at:
231 Red River Rd, Thunder Bay, ON P7B 1A7, in the Port Arthur area
Meet your Licensed Insolvency Trustee
Adam Fisher is the Licensed Insolvency Trustee for our Thunder Bay office.
He qualified as a Chartered Accountant in 2003, was licensed as a Licensed Insolvency Trustee in 2007, and joined Harris & Partners in 2008 after eight years at Ernst & Young.
Address
231 Red River Rd, Thunder Bay, ON P7B 1A7
How to get there
By car: From the Thunder Bay Expressway (Highways 11/17), turn onto Red River Road and head east towards Port Arthur.
By public transit: Several Thunder Bay Transit routes, including the 1, 2, 3M, 11 and 13, run along Red River Road into Port Arthur and stop within a couple of minutes’ walk of the office. The Water Street Terminal is close by too.
Office hours
Monday to Friday: 09:00-17:00 (by appointment only)
Thunder Bay consumer proposal FAQs
These answers cover the questions Thunder Bay residents ask most about consumer proposals, from tax debt and credit ratings to cost.
Do I have to travel to Thunder Bay for a consumer proposal?
You can usually complete a consumer proposal in Thunder Bay without travelling there by meeting your trustee by video or phone, which helps if you live in Kenora, Dryden, Marathon or Nipigon. The Red River Road office is the nearest Harris & Partners office for most of Northwestern Ontario. The first consultation is free, by appointment, with no obligation.
How long does a consumer proposal take to be approved in Thunder Bay?
A consumer proposal in Thunder Bay takes about 60 days to approve after your trustee files it. Creditors have 45 days to accept it or ask for a meeting, and the court then treats it as approved after another 15 days unless the official receiver or another interested party asks for a review, so most never go to court.
What will my monthly payment be on a consumer proposal in Thunder Bay?
Your monthly consumer proposal payment in Thunder Bay depends on your income, essential living costs, household size and assets, and typically repays a percentage of what you owe over up to five years. There’s no upfront fee; federal rules set the trustee’s fees, which come out of those payments and include two required counselling sessions.
Will a consumer proposal in Thunder Bay stop CRA wage garnishment?
Filing a consumer proposal in Thunder Bay stops CRA wage garnishments and bank account freezes, because it puts a legal hold on collection by all unsecured creditors. You can include most CRA debt, such as personal income tax, GST/HST you owe personally and CPP or EI overpayments, and the CRA votes on the proposal like any other creditor.
Is a consumer proposal better for my credit than bankruptcy in Thunder Bay?
A consumer proposal in Thunder Bay is easier on your credit than bankruptcy, because it adds an R7 rating rather than the lowest R9 rating. The R7 drops off three years after your final payment or six years after filing, whichever is sooner, while a first bankruptcy stays on your report for six to seven years after discharge.