Consumer Proposal in North York, Ontario

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Selecting the Right Debt Solutions Professional in North York, Ontario

Chande Debt Solutions offers comprehensive debt relief services to North York residents facing financial challenges. We understand the complexities and stresses associated with managing debt, which is why our team of Licensed Insolvency Trustees is dedicated to providing expert assistance and support.

Whether you’re struggling with credit card debt, burdened by personal loans, or exploring various debt relief avenues, our professionals are committed to helping you achieve financial stability. Our experienced Licensed Insolvency Trustees are your trusted partners for debt relief in North York. We recognize the importance of informed decision-making when considering options like consumer proposals or bankruptcy, and our consultations are designed to provide clarity and guidance, free of charge and without any time constraints.



Consumer Proposal

A consumer proposal offers an effective resolution for individuals grappling with credit card debt, tax obligations, or personal loans. A consumer proposal is a legally binding agreement between debtors and creditors, consolidating and settling debts for less than the total amount owed. Only Licensed Insolvency Trustees (LIT), such as those at Chande Debt Solutions, are authorized to file consumer proposals.

Our LITs conduct thorough assessments to determine manageable monthly repayment amounts before drafting the proposal for your creditors. Following creditor approval, the proposal becomes binding, you make scheduled payments, and the remaining debt is discharged upon meeting all conditions.

Key benefits of a consumer proposal include:

  • Reduction of up to 80% of total debt
  • Suspension of legal actions, such as wage garnishments or frozen bank accounts
  • Cessation of collection calls
  • Preservation of assets, including tax refunds
  • Elimination of additional interest on included debts

Debt Consolidation Vs. Consumer Proposal

While debt consolidation involves consolidating debts into a single loan and preserving credit scores and financial autonomy, it may pose challenges in eligibility and fail to address underlying issues or halt interest accrual.

In contrast, a consumer proposal may impact credit scores but allows for significant debt reduction, cessation of legal actions and collection calls, and prevention of additional interest on debts included in the proposal.

Personal Bankruptcy

Personal bankruptcy serves as a last resort for individuals with limited alternatives, offering a swift and cost-effective means of escaping insurmountable debt, with discharge possible within as little as 9 months. However, it impacts your credit score, and you must relinquish any non-exempt assets.



If you require urgent debt relief in North York due to mounting credit card debt, tax burdens, or personal loan challenges, our team will conduct a comprehensive financial review to identify tailored solutions for your needs.

At Chande Debt Solutions, we prioritize delivering genuine relief, not simply restructuring debt. Our experienced Licensed Insolvency Trustees are dedicated to finding the optimal solution for you. Consultations remain complimentary and unrestricted in duration.

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 North York and Nearby Areas

Your Trusted Partner for Debt Relief in North York, Ontario


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