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Consumer Proposal

Services in Canada

Eliminate most unsecured debts and get a fresh financial start.

Goth and Company eliminates overwhelming debt for Canadian residents through government-approved consumer proposal and debt settlement programs. As Licensed Insolvency Trustees, we are the only professionals legally authorized to file consumer proposals and bankruptcy in Canada.

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Filing a Consumer Proposal

A consumer proposal is a court-sanctioned process that allows you to negotiate a settlement with your unsecured creditors. It is designed to allow those who cannot afford to pay their debts in full a way to avoid bankruptcy.

For example, if you have $35,000 in unsecured debt (i.e. credit card debts, bank loans, and taxes) and only have $500.00 left each month after your normal living costs, you cannot afford to pay the $1,050 per month minimum payments that would be required. This is the type of situation that a proposal was designed to help with. You could consider making a consumer proposal where you propose to pay the creditors a total of $15,000 over the course of up to a five-year term. In the proposal, you will no interest (this has been frozen by the court), and you end up with one a payment that could be as low as $250.00 per month.

What is a Consumer Proposal?

Understand the basics of consumer proposals and how they work.

Consumer Proposals vs Bankruptcy

How are they different? How are they the same? More information here…

Consumer Proposals & Your Credit

Learn how to get out of debt and build up a strong credit history.

Debt Consolidation With A Proposal

How does a consumer proposal compare to other consolidation options?

How do You File a Consumer Proposal?

Only a Licensed Insolvency Trustee can file a consumer proposal for you. The first step would be meeting with a proposal administrator at your Trustee’s office. The administrator will assist you in assessing your situation and determining whether or not a proposal will work.

After a detailed review of your finances (i.e. who you owe money to, how much you owe, your monthly cash flow, etc.), the administrator will help you determine what type of offer would be required to satisfy the creditors and whether or not that will fit into your monthly budget. At the same time, the trustee will explain how the proposal process works.

There are fundamental concepts that are essential for you to be familiar with (i.e. voting, the stay of proceedings, etc.). If the numbers appear reasonable for both you and your creditors, the Trustee will help to prepare the documents necessary to file a consumer proposal to creditors.

How do you file a consumer proposal in Edmonton

Who Decides if a Proposal is Acceptable?

For a proposal to be accepted we need to have a majority of the creditors, so there is a formal voting process that takes place. Your unsecured creditors will have 45 days to determine if the proposal is acceptable and as long as we have a majority of the creditors cooperating with the proposal, regardless of which creditors we are dealing with, the consumer proposal is automatically binding on all the creditors involved.

Once the proposal has been accepted by the creditors it is also approved by the court, but this is largely a rubber stamp, as long as the creditors are happy and the proposal has been written properly based on valid information, the court is happy to ratify the creditors’ decision.

Free Consumer Proposal Consultation

Learn how a consumer proposal could work for you!

Free Professional Advice

Goth & Company are here to help. No cost. No obligation.

Client Reviews

See what our clients have to say about their experience with Goth and Company

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Goth & Company Ltd. LIT4.8
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Brittany C.
7 months ago
I had such a great experience with this office, especially Colleen. She was incredibly kind, patient, and thorough — taking the time to explain everything and make sure I fully understood. She made a really stressful process feel manageable and treated me with so much respect and compassion. I’m so grateful for her help and would absolutely recommend this office to anyone needing guidance.
Response from the owner:Thank you Brittany for the kind words. If there is anything else you need be sure to reach out!!!
Terry
11 months ago
For a very long time I had been on edge because of a 'charitable giving' tax shelter I had participated in many years earlier . The tax court had finally ruled against the beneficiaries of this shelter and I was now on the hook for most of my original donation plus interest dating back 20 years .I was ' climbing the walls' waiting for the day CRA would scoop my bank account . But , Goth pulled away the clouds of doom and presented me with a well explained , greatly reduced 5 year payment plan that CRA accepted. I did not need to declare bankruptcy . Until this thing with Goth was behind me , I did not realize how it was affecting everything in my life . I sleep better , I smile more and people ask "do you have a girl friend ". I am a bit of a recluse. And since this proposal was enacted , Goth has been so helpful in promptly answering any questions I might have. Do not even think of enlisting the services of scammers who will 'offer' to quash CRA's case against you . They will get you so far into trouble your great grand children will be paying for you . Only ever consider using a licensed trustee to help you out of this mess .
Response from the owner:We are happy to be able to take the edge off and help you move forward!!! Please let us know if there is anything else you need!!!!
Personal C.
11 months ago
After 4 ankle surgeries, I was unable to continue working. My debts were substantial. I had CRA debt, credit card debts, line of credit debts, and other miscellaneous debts. The team at Goth were always very courteous and non judgmental. I liked everyone I interacted with. They arranged a 9 months bankruptcy, with a very low monthly payment. I have now completed the process, and I am 100% debt free. Goth was amazing. They obviously wanted to help me out, and their main priority is to make sure everything is done by the book. Highly Recommended!
Response from the owner:We sincerely appreciate your kind feedback. It was our pleasure to assist you, and we’re glad to hear you had a positive experience. Should you require any further support, we’re always here to help.
Jessica
1 year ago
Thank you GOTH & COMPANY and the WHOLE TEAM and most Special to Mention Miss Paula Power, you are so Amazing and Very informative, no judging my situation. The moment i spoke up to Miss Paula, thats the time i felt big relieve, iam almost end up my life, because i dont know what to do.I've been suffering Depression and Anxiety, because of my situation i've been through a lot.Once again Thank You GOTH And The Whole TEAM! You guys a Highly Recommended 100%. All the Best!
Response from the owner:We appreciate your 5-star rating and your feedback. Providing professional and supportive service is important to us. Should you need any additional assistance, we’re always happy to help.
Jenna G.
2 years ago
The time, kindness, knowledgeable staff of this wonderful company helped our household when in a small bind. Each staff member was understanding, and treated us like we mattered/family; as well as clients. No better place to go to than this company for anything they offer. Made everything very simple, and put lots of anxiety at ease starting from the very 1st appointment. Thank you from the Hall & Grayson families.
Response from the owner:Thank you for your review and for your kind feedback. We’re pleased you had a positive experience. If there’s anything we can assist with in the future, please don’t hesitate to reach out.
Linda D.
2 years ago
I got in touch with Goth and Company a few weeks ago and I am happy that I did. .They are very informative and awesome people to talk with ..Everything is explained very well and any questions that you asked are answered...I can honestly say they have helped me great with this process. .So I advise people that if you are having financial problems please give Goth and Company a call. You will not be disappointed.. Thank you for the help you have given me.
Response from the owner:We sincerely appreciate your review. Thank you for taking the time to share your experience. Should you need support in the future, we’re always here to help.
Jackie W.
2 years ago
Omg! I’m finally feeling like I can relax. The last couple of months, have been extremely stressful and overwhelming. I left Real Estate in November .. but the CRA estimated my HST. And demanded I pay installments .. but wanted huge payments. That I couldn’t pay. So I decided to do a Consumer Proposal. Goth, explained everything to me & took care of everything and really took the stress out of my life.
Response from the owner:Thank you for the 5-star review and for sharing your experience. We value your trust and are happy we could support you through your financial matters. Please feel free to contact us if you need anything in the future.
Caro M.
2 years ago
The last couple of years, I had been going through some personal difficulties that put me in a place where I had no room to breathe financially. I felt like I was running around in circles paying left and right and was still not catching up. Until one day I realized, I can’t make all these payments next month. When I saw that I was in real trouble, I contacted Zach from 4 Pillars and was referred to Goth & Company Ltd. An appointment was made and I met with, David Mazerolle. I was anxious, I would have to tell what had happened that got me to the point of not being able to pay. The trustee put me at ease explaining everything. He went through every single step and how everything works. Before signing, went through all the calculations and how much my monthly payment would be. Having said all of this, if you are struggling, please know that there is help. Knowing what I know now, I encourage anyone experiencing a similar financial distress to contact Goth & Company Ltd. There is no risk, you will not be judged.
Claire
2 years ago
When dealing with a personal, and sensitive issue such as your finances, you seek a process that smooth and easy. You also seek people that are knowledgeable and kind towards you and your situation. These are all qualities that this company offers. Looking forward to continuing to build my relationship with this company, as I work towards financial freedom and success!
Sarah B.
2 years ago
Goth and company worked exceptionally hard to help us when the banks literally LAUGHED at us. Not only did they reduce the amount we owed, even tho we didn’t qualify for a reduction, they provide courses to make it easier for you to help yourself not fall back into crippling debt again. They handled all the businesses we owed and it took the main stress out of our lives. Thank you from the bottom of our hearts Sarah and Leo
Elise
2 years ago
The entire experience has been positive , informative and honourable. Mr Goth explained everything in great detail and never made us feel humiliated. His knowledgeable, kind and gentle manor made the entire process much more tolerable and accepting. We appreciated his willingness to listen and professionalism.
Russell T.
2 years ago
Mr Goth was very helpful throughout the entire process and took the time needed to explain each and every detail to make sure i understood . I would highly recommend Goth and Company for you financial needs. Once again Thank you yo Mr Barton Goth for helping through this process. Best Regards , Russ Tureck
Samm B.
2 years ago
During my consultation and review of my proposal all the information was provided with detail, and in a way that was easy to follow. Since then I have been so much more stress free as they have made the process so easy and tailored my payments to my income so that I can still afford to pay my other bills. I was terrified of having my debt consolidated but it has been an absolute god send! Definitely recommend giving them a call if you’re stressed about your debt like I was.
j Q.
2 years ago
I have the pleasure of meeting with the team who will help me begin a new life . The burden i was carrying with my financial problems was lift. I feel so happy and relieved that there is a group of people who can help someone like me . Thank you so much . I recommend anyone who is in this kind of situation to reach out to them .
Sherwin C.
2 years ago
Goth & Company Ltd. Took away my stress in my financial situation. As a busy person working, they try to help me based on my available schedules, Barton explained to me all the options with all the advantages and disadvantages of each of them. He made everything easy and simple for me. I will definitely recommend this company to all my friends and family that needed this kind of help.
Mandy K.
2 years ago
I am thrilled to share my experience with Goth & Company. They have truly been a lifesaver for me over the past 8 months. From the moment I reached out to them seeking help with managing my debt, they have been nothing short of professional, understanding, and dedicated to helping me navigate through a challenging financial situation. The team at Goth & Company went above and beyond to provide me with personalized support and guidance every step of the way. They took the time to carefully explain the process, answer all of my questions, and ensure that I felt comfortable and informed throughout the entire journey. Thanks to their expertise and assistance, I have been able to significantly reduce my debt and create a manageable repayment plan that works for my budget. I feel relieved and empowered knowing that I have their ongoing support and expertise to help me achieve financial stability. I highly recommend Goth & Company to anyone in need of debt management assistance. Their professionalism, knowledge, and commitment to their clients truly set them apart. I am incredibly grateful for their help.
Eric T.
2 years ago
I really appreaciate Mr. Goth professionalism when we had our meeting to sign the consume proposal .when we went through all the documents. He explain every everything and differences and made sure that i understand the process and made sure all the information are correct. It was seamless and pretty straight forward experience. Thank you
Kayla K.
2 years ago
Barth was great to deal with and communicate with. He explained everything in detail and made sure I understood the process. I had no stress from start to finish. I also spoke with David when signing documents and he was also great to work with. Would 10/10 recommend Goth & Company for your debt consolidation/consumer proposals.
Tetiana O.
2 years ago
Going through with Goth $ Company has been one of the best decisions I’ve made. I felt so overwhelmed with my debt and felt like it was gonna be forever to be able to get it under control.. but now I have a goal in place and I can finally have some peace of mind! I couldn’t have asked for better people. I highly recommend Goth and thank you so much to the individuals I dealt with.
Kyle
2 years ago
Goth and Company are beyond caring and understanding. David Mazerolle is my trustee and he took his time to explain everything and to make sure I had all that I needed. I just felt really welcome into their company to help me fix my debt and get my credit back on track so I can buy a home in the near future!! Linet is very helpful as well, their all really helpful at Goth. 100% highly recommend them for your proposals or bankruptcy!!
Chris C.
2 years ago
It really is a shame/tragedy what the governments of Canada/Alberta have done public policy wise to crush the individual economies of its citizens, however, I am grateful for the services of Goth & Company in these trying times for helping me address the situation professionally and accountably. Thank you for your help. Highly recommend this business in the Edmonton area and Northern Alberta.
Amelia N.
2 years ago
I had no trouble feeling taken care of even from the first phone conversation I had with a Goth trustee. They spent time outlining all of my options and determining which would be best for me. Every query received a thorough response. I had a great experience with Goth and company, and I wholeheartedly endorse them. Do not hesitate to call them.
K
2 years ago
I filed a consumer proposal with Goth and Comp. and love that I was treated with respect and courtesy despite feeling embarrassed about my financial situation. The process is straight forward and after discussing my options, I was able to make a decision to go with a proposal to help with my debt. Signing is incredibly convenient and I was able to book my apt over zoom meetings. I appreciate the professionalism and knowledge of Goth and Company associates. Would highly recommend them.
Shannon F.
2 years ago
I felt they really understood where I came from. Goth & Company Ltd are helping me achieve my financial goals by educating me on budgeting and warning me of the pitfalls that cause so many financial problems for the individual. I never felt judged by them even though it was very humbling to have to come to them in the first place. And bonus, I could do my courses over the phone as I live 5 hours away. I highly recommend!
Tiffany V.
2 years ago
So far, so good explained everything haven’t had meeting of creditors yet . But they were fast and efficient in getting all the forms finished and explaining how it will work . I was also in the middle of moving and David was great at being able to contact me later that day when I didn’t budget enough time for the appointment .

Recent Posts About Consumer Proposals

We publish new content based on questions and feedback from our clients and visitors.

Will This Clear My Credit Report?

Will This Clear My Credit Report?

A Consumer Proposal or Personal Bankruptcy Will Clear Up My Credit Report Myth or Fact? Several times a week I get calls from individuals (debtors) who believe that if they go through a consumer proposal or personal bankruptcy their debts will be removed from their...

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How Often Do Consumer Proposals Get Rejected?

How Often Do Consumer Proposals Get Rejected?

How Often Do Consumer Proposals Get Rejected? And What Happens If They Are?   Consumer Proposals get accepted in our office “eventually” at a rate of 98% or better. This means a combination of acceptance by creditors votes by the initial vote 45 days from the...

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Do I Have To Disclose All Of My Debts?

Do I Have To Disclose All Of My Debts?

Do I Have To Disclose All Debts In A Consumer Proposal Or Bankruptcy? Why It Matters When a consumer proposal or bankruptcy starts there is immediate protection from the collection action of all unsecured creditors against the debtor. To get this protection, certain...

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Can I Make A Consumer Proposal To My Creditors By Myself?

Can I Make A Consumer Proposal To My Creditors By Myself?

Can I Make A Consumer Proposal To My Creditors By Myself? No, you can’t. But let’s make sure we are both talking about the same thing. If you ask a Licensed Insolvency Trustee (“LIT”) what a consumer proposal is, the LIT will tell you that it is a specific process...

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Frequently Asked Questions

Below are commonly asked questions about consumer proposal services in Canada.

What debts can be included with a consumer proposal?

  • Credit cards
  • Bank loans
  • Tax debt
  • Payday loans
  • Student loans, in some cases

How do I know if I qualify?

A Licensed Insolvency Trustee can assess whether if you fall under the Federal requirements that must be met to file a consumer proposal.

  • Are you able to pay a portion of your debts?
  • Is the value of what you own greater than your debts?
  • Are your debts less than $250,000?
  • Are you able to afford monthly and lump sum payment(s)?

If so, a consumer proposal may be the most cost-effective debt solution for you.

Who can file a consumer proposal?

By law, consumer proposals must be filed by a Licensed Insolvency Trustee (LIT). Our knowledgeable administrating LITs will get all your questions answered and can start your proposal as early as your first appointment if that is what you want. We are here to answer all of your questions and walk you confidently through every step of the process.