Legally Reduce Your Unsecured Debt by Up to 80%
Consumer Proposal in Alberta, Canada
Consumer Proposal
There’s a legal way to stop debt from controlling your life
The weight of debt can feel unbearable, especially with Alberta’s rising costs and economic challenges. High interest rates, missed payments or arrears, and wage garnishments can take an emotional toll, leaving you feeling anxious, stressed, and uncertain about the future.
At BNA, we understand the strain these financial pressures place on your life. Our Licensed Insolvency Trustees (LITs) and team work closely with you to create a personalized debt repayment plan that fits your financial reality. A consumer proposal can give you a fresh start, letting you repay creditors at a manageable pace while protecting you from wage garnishments and creditor harassment.
What to expect
When you’ve worked hard to build it, the goal is to protect it
The “Stay of Proceedings” (the legal shield)
The moment we file a consumer proposal, a powerful legal injunction called the “Stay of Proceedings” kicks in. This protection begins immediately once your proposal is filed. Wage garnishments stop instantly. Creditors are legally required to stop most collection actions related to included unsecured debts. Lawsuits and frozen bank accounts are paused.
You keep your assets (home, car, RRSPs)
This is why homeowners choose proposals to avoid bankruptcy. You are restructuring your unsecured debts (like credit cards and payday loans), not your life. As long as you keep your mortgage payments current, your home is safe from unsecured creditors. You keep your vehicle (provided you maintain the car loan payments). Most RRSPs and pensions are protected by law as well.
Interest stops on included unsecured debt
In a consumer proposal, interest on included unsecured debts stops accruing once the proposal is filed. Every payment goes toward reducing your agreed settlement amount, helping you focus on resolving debt rather than servicing growing interest.
A plan you can actually finish
No more minimum payments that last 20 years. A consumer proposal has a hard deadline (maximum 5 years). You get a single, fixed monthly payment that fits your budget, and a clear finish line where you are officially debt-free.
What our clients say
From first call to final step, 27+ years at your side
For over 27 years, BNA Debt Solutions has been a trusted ally to Albertans feeling the weight of financial stress. We’ve helped thousands find hope and relief from crushing debt, offering compassionate support and clear, trustworthy guidance at every step.
If you are in a position where you need to find a solution out of debt, reach out to BNA for more information. There is no commitment to find out what options are available. I was embarrassed and uncomfortable to share the details of my experience but Sammie immediately put me at ease. She is compassionate, knowledgeable, flexible and an amazing problem solver. She covered all options available to me at my convenience, she passed no judgment, and I felt no pressure to commit. Together we settled on an option that worked best for me. It is never a winning situation to be in a position where you need to dig yourself out of a hole you created but I can finally see a light at the end of the tunnel, thanks to the team at BNA.
You walk in anxious and heavy, that awful burning in the pit of your stomach that comes with debt; feelings of shame, uselessness, irresponsibility. But then you talk to a representative like Simmie, and the weight of the burden begins to melt away. She’s there for you, she talks you through many options, she answers each and every one of your questions with clarity and compassion. Not only does she want to help, she’s trained and licensed to do so. There is work involved for you in this collaborative process, papers and numbers and lists but in the end you are presented with a very feasible, simple plan that allows you to breathe, to engage with your life and your finances in a measured way. I cannot thank Simmie and BNS enough for their empathy, quick turnaround, and straightforward processes.
Unfortunately ran into a sticky financial situation and was referred to BNA Debt Solutions through a debt counselling service. Have had a few meetings and they were always very helpful, kind and understanding. They made my consumer proposal very easy to understand and walked me through it all to ensure I was comfortable with the documents before we took any action. If you’re stressing out about financials, there is help available and I wish I would have reached out earlier. BNA is a great option!
I’ve got myself in very ugly financial situation. It was so stressful that I thought my life is over. It had very big impact on my mental and physical health. When I found out about BNA and their business it was just thin hope that maybe I would find some help. My first appointment was with Simmie Pandher in the office of BNA. After I presented my situation and my worries, Simmie has shown an enthusiastic interest to understand , assist and help me. She sounds like an angel when she said to me that I came to right place where they will find right solution for me. She told me that all my worries ,sleepless night and other concerns will be over. Now because of professional dedication and knowledge of Simmie and Andy Wong and their all team I am back to life again. THANK YOU!
Bad things happen to good people, especially in times of economic and employment uncertainty.
From the very beginning, from my first phone call, BNA Solutions has treated me with respect, empathy and complete professionalism.
The staff were very thorough, knowledgeable and prompt with all my interactions. All options were explained to me and I felt there was hope rather than darkness and despair.
Have used BNA Debt Solutions twice. Once for credit card debt and another regarding a business failure. Both times very empathetic to my situation. I felt I had someone in my corner when it came to dealing with institutions that were aggressive and not empathetic to our situation. Would recommend them infact I have sent three other individuals that had financial challenges and they were grateful that I recommended such a strong team of advocates for their situations.
About Consumer Proposal
So… what is a Consumer Proposal?
A consumer proposal is a legally binding agreement with your unsecured creditors, allowing you to repay a portion of your debt over a flexible period of up to five years. This alternative is ideal for those facing high interest rates, missed payments, or wage garnishments. Licensed Insolvency Trustees (LITs) at BNA Debt Solutions are here to guide you through the process.
To be eligible in Alberta, your unsecured debt must not exceed a set limit under the Bankruptcy and Insolvency Act. You need to have a steady income to make fixed payments over time. Consumer proposals in Alberta help protect your assets, like your home or car.
Who can file? (the eligibility checklist)
- Your total debt is below $250,000 (excluding your principal mortgage).
- If your debt exceeds $250,000, we can look at a Division 1 Proposal instead.
- You have the ability to make regular monthly payments.
- You are insolvent, meaning you’re unable to pay your debts as they come due, or your liabilities exceed your assets.
- You owe money to at least one creditor you cannot fully repay.
- You are a resident of Canada or have property or business in Canada.
- Your creditors must approve the proposal by a majority vote in dollar value.
If you meet the eligibility criteria, a consumer proposal can stop legal action against you. This debt solution is tailored to your needs while providing immediate relief and helping rebuild your credit rating over time. Reach out to us for a consultation and regain control of your finances with confidence.
The Consumer Proposal Process
We handle the heavy lifting. Your job is to stay calm and follow the plan.
TURN THE PAGE TODAY
Debt is a chapter, not the whole story
Right now, it feels like debt is the only thing that matters. But in 60 months (or less), this will just be a memory. A Consumer Proposal puts a hard stop on the chaos and draws a straight line to the finish.
Check Your Estimate
How much can you really save with a consumer proposal?
Note: This is an average repayment, however, each person’s circumstances will impact their repayment.
Creditor Psychology
Why creditors say “yes” to our proposals
It seems counterintuitive. Why would a bank agree to lose money? The answer is simple: We present a better alternative to the worst-case scenario for them – bankruptcy.
We build offers based on data, not hope
We prove to them, using data and the Bankruptcy and Insolvency Act, that this offer is better than what they would get if you declared personal bankruptcy.
We speak their language
Licensed Insolvency Trustees work within a regulated legal framework that creditors recognize and understand. When BNA submits a file, creditors know the income and asset data have been vetted. They know the offer is fair. This trust increases the speed of creditor approval.
Certainty beats chaos
Creditors prefer a guaranteed monthly payment from a proposal over the chaos of chasing you for years with collection agencies. A proposal gives them and you a clear contract.
We handle the CRA
If you have tax debt, the CRA can be the most aggressive creditor. However, a consumer proposal is one of the few ways to legally compromise tax debt. As long as your prior filings are up to date, we can often negotiate a settlement with the CRA just like any other bank.
Talking to banks is hard when you’re already stressed.
Let us help you navigate the process with clarity
Managing debt can feel overwhelming, especially when communication with creditors becomes stressful. A Licensed Insolvency Trustee provides a regulated legal process that brings structure, clarity, and relief by helping facilitate a formal solution under federal law.
We’ve got your back
What if things go wrong? We’re already prepared.
If creditors say no (the negotiation)
Rejection is rare, but if creditors reject the initial offer, the deal is not dead. We simply enter a negotiation phase. Your Licensed Insolvency Trustee will guide the process and help facilitate revised terms based on your financial circumstances. Unlike a Division 1 proposal, if a Consumer Proposal is rejected, you are not automatically bankrupt. You remain in control.
If your income drops
Life happens. If you face an unexpected job loss or emergency, reach out to us immediately. We will review your situation and explain your available options.
If you need the harassment to stop
The Stay of Proceedings provides immediate legal protection from most creditor collection actions. If collection calls continue after we file, it is often due to processing time. If they continue beyond that, let us know right away. This legally enforced silence gives you the mental space to recover.
If you want to protect your assests
We draft the proposal specifically to exclude your secured assets. As long as your mortgage or car payments are up to date, the lender cannot cancel your loan simply because you filed a proposal to fix your credit cards.
Federally Regulated Debt Relief
Only Licensed Insolvency Trustees can legally file a Consumer Proposal
While many people first explore debt advisors, consultants, or legal professionals, only a federally Licensed Insolvency Trustee can formally administer a Consumer Proposal under the Bankruptcy and Insolvency Act.
your licensed insolvency trustee
The only professional legally authorized to file
You cannot file a Consumer Proposal through a lawyer, a “debt consultant,” or a bank. It must be administered by a Licensed Insolvency Trustee.
At BNA Debt Solutions, we wear two hats.
- Officer of the Court: We ensure the process is legally compliant and fair to all parties.
- Your Strategic Guide: We help you navigate the system. We ensure you understand every clause, every number, and every implication before you sign.
We manage the legal process, paperwork, and communication so you can focus on moving forward.
Effective debt relief
Your peace of mind, our mission – validated by prestigious awards
We’ve worked hard to earn the trust of Albertans for over 27 years. We’re proud to be recognized for our commitment to excellence and transparency.
why bna debt solutions?
When debt feels overwhelming, we build a plan that works
Over 27 years of trusted experience
With over 27 years of helping Albertans, BNA Debt Solutions has earned a reputation for delivering real results. We’ve been here, helping people like you rebuild their financial lives.
Tailored debt solutions, not one-size-fits-all
Your situation is unique, and so are your solutions. At BNA, we take the time to understand your needs and create a customized consumer proposal that fits your budget so you’re not stuck with a cookie-cutter plan that doesn’t work for you.
Ethical and transparent practices
We know you’ve probably heard all sorts of promises from other companies. At BNA Debt Solutions, there are no gimmicks, no hidden fees—just straightforward, honest advice. We want you to feel confident in the decisions you’re making without any surprises.
Immediate relief and long-term benefits
Imagine the weight lifting off your shoulders when a creditor calls and wage garnishments stop. With a consumer proposal, you get immediate relief and a manageable single monthly payment plan that brings long-term peace of mind and financial stability.
Focused on solutions, not sales
At BNA, we’re not here to sell you anything you don’t need. Our focus is solely on finding the best solution to help you take control of your debt and move forward with confidence—without feeling pressured.
Where trust meets expertise
You don’t have to face this alone. Our Licensed Insolvency Trustees are with you every step of the way, offering expert guidance and a genuine commitment to helping you achieve the fresh start you deserve.
DEFINE YOUR FUTURE
The hardest part is the first call, we handle the rest
You have carried this weight long enough. Hand it over to a professional who knows the way out. One conversation changes the trajectory of your entire financial future.
FREQUENTLY ASKED QUESTIONS
Your questions, answered – let’s clear things up
Can I include all my debts in a consumer proposal?
Not all debt can be included. Only unsecured debts like credit cards, payday loans, or CRA arrears are eligible. Secured debts like mortgage payments and car loans are excluded, as secured loans and creditors with collateral have different rights and protections.
What happens to unsecured creditors in a consumer proposal?
Unsecured creditors must agree to the terms of a consumer proposal through a majority vote. Once consumer proposal offers are accepted, they cannot pursue collections, garnishments, or other legal actions, and their claims are settled through proposal payments as outlined in the agreement.
How is the monthly payment calculated in a consumer proposal?
Monthly payments in a consumer proposal are based on your financial situation and cover unsecured loans and debts while protecting your assets. Licensed Insolvency Trustees and their teams assess your income, expenses, and future payments to design an affordable repayment plan for you and your creditors.
Can a consumer proposal stop wage garnishments or legal actions?
Yes, filing a consumer proposal stays proceedings like wage garnishments, liens, or lawsuits initiated by creditors. Once accepted, creditors must follow the terms of the proposal and cannot take further action, offering immediate protection and relief.
Will a consumer proposal affect my credit rating?
Yes, a consumer proposal affects your credit rating. During the repayment period, it may be reported as an R9. Once completed, it typically transitions to an R7 rating for a period afterward, which is generally less severe than bankruptcy and provides a structured path toward rebuilding credit.
Is a consumer proposal my only debt relief solution?
A consumer proposal is one of many debt relief options. Other debt relief solutions include debt consolidation loans, credit counselling, or personal bankruptcy. Licensed Insolvency Trustees, along with their team at BNA, can assess your situation and help determine the most effective debt-free solution for your needs.
THE SILENCE STARTS HERE
Protect what matters. Start moving forward today.
You have carried this stress long enough. A Licensed Insolvency Trustee can help you understand your legal options, reduce uncertainty, and move toward a more stable financial future.