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Consumer Proposal

The consumer proposal is the best way to settle your debt problems without declaring bankruptcy. It is a negotiated agreement between your creditors and a qualified professional (the licensed insolvency trustee), can allow you to reduce your debt amount by up to 50%.

BLT Lapointe & Associates Inc. is a licensed insolvency trustee with offices in Montreal, Laval, and many other cities in the province of Quebec. We are accredited by the Office of the Superintendent of Bankruptcy to administer official proceedings surrounding the consumer proposal.

The 5 Steps of the Consumer Proposal

1. Evaluating your financial situation

At BLT Lapointe & Associates Inc., our advisors are pleased to offer a free, confidential initial assessment, with no obligation on your behalf. During this meeting, we will be in listening mode to then create a proposal based on your budget and repayment capacities. The proposal will then be submitted to your creditors.

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2. Submitting the proposal to the Office of the Superintendent of Bankruptcy (OSB)

As soon as the proposal documents have been submitted to the OSB:

  • You will no longer have to repay your creditors directly;
  • You will be protected from seizure and other legal proceedings;
  • You will no longer have to deal with harassment, since we will deal with your creditors on your behalf.

3. Presenting the consumer proposal to your creditors

The proposal is presented during a creditor’s meeting. If it is accepted by the majority (50% + 1), this solution will allow you to:

  • Keep your assets;
  • Make a single payment each month;
  • Minimize the situation’s impact on your credit score.

Thanks to the consumer proposal, a reduced volume of your debts will be combined to allow you to make a single monthly payment, with no interest, paid directly to your licensed insolvency trustee over a maximum period of 5 years (60 months).

4. Follow-up meetings

As long as you are making monthly payments, we will guide you through a series of follow-up meetings. The goal of these meetings is to help ensure your budget remains balanced to allow you to achieve financial freedom.

5. Debt discharge

If you meet the conditions of the consumer proposal, we will provide you with a Certificate of Full Performance attesting that you are now discharged of your debts.

We can help

For more information on the consumer proposal, please get in touch with one of our offices in Montreal, Laval, the South Shore (Longueil, Brossard, etc.), Blainville, St-Jérôme, Granby, and many other cities and municipalities.

Find an office near you