Consumer Proposal Calculator

Consumer Proposal Calculator – how much does a consumer proposal cost?

Consumer proposal calculator – is there really such a thing? How much does a consumer proposal cost? This will depend on a number for factors:

  • Your assets
  • How much debt you owe
  • Your monthly net income
  • The number of dependents in your household (i.e., spouse and children)
  • Your spouse’s monthly net income
  • Whether your not you’ve previously file for personal bankruptcy

How these factors determine the cost of a consumer proposal is too lengthy to explain at the present time. However we can provide a rough guide of what a consumer proposal would cost you:

How much does a consumer proposal cost?

Amount of debtMonthly net incomeEstimated consumer proposal payments
less than $12,000less than $3,100$120/month x 60 months = $7,200
between $12,000 - $18,000less than $3,450$150/month x 60 months = $9,000
between $18,000 - $21,000less than $3,650$180/month x 60 months = $10,800
between $22,000 - $24,000less than $3,700$200/month x 60 months = $12,000
between $24,000 - $30,000less than $3,950$250/month x 60 months = $15,000
over $30,000less than $12,00050% of your debt, paid over 60 months
The following assumptions are made in generating this table:

1. You are single with no dependants

2. You have no assets

3. You've never filed for bankruptcy

Again, we must stress that these are rough estimates. How much you will be paying in your consumer proposal will depend on your own individual circumstances.

WARNING – online debt repayment calculators

You may run into online debt repayment calculators that calculate what your monthly payments would be under a consumer proposal. These calculators almost always underestimate your monthly payments.

Why do they do this? Because it’s a classic “bait and switch” tactic that some firms use. For example, one firm’s online calculator estimates a monthly proposal payment of $175/month for someone who has $30,000 of debt.

What they don’t tell you is that the $175/month does not include the Trustee’s fees. Once you add in the Trustee’s fees (which they don’t disclose to you), you will actually pay much more than the calculated amount.

Our table above includes our fees – you don’t pay anything else. Which leads us to our next section…

How does a Trustee get paid?

You are probably wondering how the Trustee’s professional fees are paid in a consumer proposal.

It’s simple – your proposal payments are paid to the Trustee who deposits them into a trust account. The funds are held in trust for your creditors. The Trustee’s fees are paid out of the trust account according to a tariff under the Bankruptcy and Insolvency Act.

In other words, the Trustee’s fees are paid by your creditors based on a percentage of the trust account money. You don’t pay anything other than the proposal payments.

And if a Trustee is telling you otherwise, be wary of working with that firm.

Consumer Proposal Calculator – the cost of doing nothing

Of course, you have the option of continuing to pay your debts on your own. However, the cost of doing nothing is the interest you will be paying on that debt as you pay it down.

Below is a handy calculator in which you can enter: (1) your credit card debt; (2) the annual interest rate on that debt; and (3) your current monthly payment.

Let’s say that you had $30,000.00 in credit card debt at an annual interest rate of 18% and you were making payments of $500.00 per month to pay it off.

Inputting these numbers into the calculator, it would take you 155 months (or 13 years) to be debt free. You would pay a total of $77,327.90, comprised of the original $30,000.00 loan balance and $47,327.90 in interest.

Months It Will Take To Be Debt Free:
Years It Will Take To Be Debt Free:
Total Amount Payed To Lender:
Total Interest Paid To Lender:

Clearly, there must be a better alternative to you than paying thousands of dollars of interest over several years. This is why consumer proposals exist – to help individuals like you who are drowning in debt.

Want to work with us? Our promise to you…

  • You will be in constant contact with a real Licensed Insolvency Trustee.
  • Your calls will always be returned.
  • Your emails will never be ignored.
  • We will work with you to craft an affordable payment plan that makes sense for your budget.

Reviews of Our Services


Victor was quick to contact me and the consistent contact was amazing. Victor is really passionate about listening to my needs and it showed as his service with me was nothing short of an amazing experience. He went out of his way to meet on my sched and his attention to detail is exceptional. If yo

Erin Dunn
Erin Dunn

Victor and his team (Mary) were always extraordinarily prompt with their responses to any inquiries and went out of their way to respond to questions in detail. They were extremely helpful at all times, even after my Proposal was completed. VIctor is an excellent advocate for his client's needs and

S Bal
S Bal

I searched for a Trustee online and Victor was the only one who really sat down and listened to my issues. He explained to me what is to come in the next five years of my life and thereafter. Mary, his office assistant has been very helpful whenever I have questions. Thank you for helping me.

Roger Silva
Roger Silva

Victor and his team were amazing. Treated us with the upmost professionalism. Answered all our questions, took care of everything and turned an unfortunate situation and made it much less stressful. I highly recommend Fong and Partners. Thank you all for your support through the process.

Maricar Venturanza
Maricar Venturanza

Working with Victor Fong was great. We just finished our consumer proposal a week ago and the entire process was quite easy. Mary was amazing at answering all my questions and accommodating me when I had any questions or concerns. Her response time was impeccable. Our initial meeting with Victor wa

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