Consumer Proposal in Mississauga, Ontario

Contact us for free debt relief advice.

Contact us now!

  • This field is for validation purposes and should be left unchanged.

Selecting the Right Debt Solutions Professional in Mississauga, Ontario

Many Canadians struggle with managing rising debt, whether credit card debt, tax debt or personal and student loans. The experienced professionals of Chande Debt Solutions can help you eliminate your debt.  

The experienced Licensed Insolvency Trustees of Chande Debt Solutions are your choice for Mississauga financial debt relief, focused on finding the right solution for you. Filing a consumer proposal or bankruptcy can be a challenging decision to make, with many consequences. We want to ensure you are well informed and don’t rush into solutions.

All our debt relief consultations in Mississauga are free, without time limits. Book a consultation today!



Consumer Proposal

One of the most efficient solutions to crippling debt is a consumer proposal, whether you are struggling with credit card debt, tax debt or personal loans.

A consumer proposal might be the right solution if you don’t qualify for a debt consolidation loan, can’t repay all of your original debt, or your debt outvalues your assets.

A consumer proposal is a legally binding contract between you and your creditors that consolidates your debt and settles it for less than you owe. With our Licensed Insolvency Trustees (LIT), you will review your financial situation to determine if a consumer proposal is the right solution. Then we will assess a realistic monthly amount you can afford. Your LIT will then submit the proposal to your creditors for approval, and once this is obtained, you will make monthly payments; after all conditions of the consumer proposal are fulfilled, the remaining debt is discharged.

The most significant benefits of a consumer proposal are:

  • Discharge up to 75% of your debt
  • Stop all legal action, such as wage garnishments or frozen bank accounts
  • Stop all collection calls
  • Keep all assets, including tax refunds
  • No additional interest on any debt included in the proposal

Please note that only LIT like Chande Debt Solutions are allowed to file consumer proposals.

Debt Consolidation vs. Consumer Proposal

Many Canadians try to compare debt consolidation and a consumer proposal, weighing their benefits and drawbacks. Whereas the former has no adverse effect on your credit score (as long as you continue to make payments on time) and don’t have to worry about dealing with anybody else but your financial institution, there also are some significant drawbacks to a consolidation loan.

Many loans, whether personal or home equity, can come with very high-interest rates and depending on your credit and payment history, you may not qualify in the first place. Another drawback of a consolidation loan is that you are allowed to keep credit cards and other sources with high-interest rates, so unless you adjust your spending habits, it does not fix the underlying issues of some of the financial problems. 

On the other hand, while a consumer proposal will affect your credit score and you can only cover unsecured debts (i.e. credit card debt, personal loans, tax debt or, depending on their age, student loans), its benefits are significant. You can discharge up to 75% of your debt owed, stop all legal action and collection calls, and any additional interest on the debt included in the proposal.

Personal Bankruptcy

Unfortunately, in some circumstances, you don’t have many choices. Generally, personal bankruptcy is the radical last resort when all other options are exhausted. While it is a quick and cheap solution to your debt problems, it also severely impacts your credit score, and you will lose any non-exempt assets.

Contact Us Today


A debt relief solution should give you relief and not just repackage your debt. So whether you are burdened by credit card or tax debt or are facing monthly payments on a personal or student loan you can’t afford, there is a debt solution for you. We will thoroughly review your financial situation and help you explore all options open to determine which solution is the best for you.

The experienced Licensed Insolvency Trustees of Chande Debt Solutions are focused on finding the right solution for you. We know that filing a consumer proposal or bankruptcy is a serious matter, and we want to ensure that you are well informed and don’t rush into any solutions. All of our consultations are free, without time limits.

Ask us about bankruptcy options

See What Your Debt Repayments Might Look Like

Our debt calculator provides a comparison of what your monthly debt repayment might look like under different debt relief options including a debt consolidation loan, debt management plan and consumer proposal



Serving Mississauga and Nearby Areas

Your Trusted Partner for Debt Relief in Mississauga, Ontario


Book a free, no obligation consultation with us today!

  • This field is for validation purposes and should be left unchanged.