Consumer Proposal Vaughan
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 Vaughan, from Woodbridge and Kleinburg to Maple, Concord and Thornhill, with free, confidential consultations.
The sooner you act, the more options you have.
Safe, secure & confidential
How does a consumer proposal work in Vaughan?
A consumer proposal in Vaughan 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 Vaughan?
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 Vaughan, 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, nearly 4 in 5 people in Vaughan 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 Vaughan 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 Vaughan?
A consumer proposal in Vaughan 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 Vaughan
A consumer proposal in Vaughan 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 Vaughan?
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.
Vaughan 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 Vaughan?
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 Vaughan?
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 Vaughan?
Our nearest office to Vaughan is in North York, at:
4789 Yonge St, Suite 1208, North York, ON M2N 0G3
Meet your Licensed Insolvency Trustee
Adam Fisher is the Licensed Insolvency Trustee at our North York office, which serves Vaughan.
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
4789 Yonge St, Suite 1208, North York, ON M2N 0G3
How to get there
By car: Take Highway 400 south to Highway 401 east, exit at Yonge Street and head north to Sheppard Avenue.
By subway: From Vaughan Metropolitan Centre, take Line 1 south to Sheppard West station, then the 84 Sheppard West bus east to Sheppard–Yonge station, which connects to the building. From Thornhill, take a bus down Yonge Street to Finch station, then Line 1 one stop south to Sheppard–Yonge.
Office hours
Monday to Friday: 09:00-17:00 (by appointment only)
Vaughan consumer proposal FAQs
These answers cover the questions Vaughan residents ask most about consumer proposals, from tax debt and credit ratings to cost.
What happens after I file a consumer proposal in Vaughan?
Once you file a consumer proposal in Vaughan, collection action stops, and your creditors have 45 days to accept it or request a meeting. If they accept and nobody asks for a court review within 15 days, it’s approved without a hearing. Your monthly payments usually begin within a month of filing, and you complete two counselling sessions.
Who pays the trustee for a consumer proposal in Vaughan?
You pay the trustee for a consumer proposal in Vaughan through your regular monthly payments, so there’s no upfront fee or separate bill. Federal rules set the trustee’s fees, and your payments, based on your income, essential costs, household size and assets, typically repay a fixed percentage of your debt over up to five years, counselling included.
Can the CRA reject a consumer proposal in Vaughan?
The CRA can vote against a consumer proposal in Vaughan, but it has no special veto; it votes like any other unsecured creditor, with its vote weighted by how much you owe it. You can include personal income tax, GST/HST you owe personally and CPP or EI overpayments, and filing stops CRA garnishments.
When does my credit start to recover after a consumer proposal in Vaughan?
Your credit usually starts recovering during a consumer proposal in Vaughan, once your monthly payments are steady, rather than only after it ends. The R7 rating comes off your report three years after your final payment or six years after filing, whichever is first, and does less damage than bankruptcy’s R9.