Legally Reduce Your Unsecured Debt by Up to 80%
Consumer Proposal in Alberta, Canada
Consumer Proposal
There’s a legal way to regain control of your debt.
The weight of debt can feel unbearable, especially with 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, allowing you to repay creditors through a structured plan based on your financial situation 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 legal protection called the “Stay of Proceedings” begins. It starts immediately once your proposal is filed. Wage garnishments stop. Creditors are legally required to stop most collection actions related to included unsecured debts. Lawsuits 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 but affordable monthly payment and a clear finish line that moves you toward being debt-free from the unsecured debts included in your proposal.
What our clients say
From first call to final release, nearly three decades of trust
For nearly three decades, BNA Debt Solutions has been a trusted ally to Albertans feeling the weight of financial stress. We’ve helped thousands find relief, clarity, and practical guidance through some of the hardest financial moments of their lives.
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 option may help people 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.
Note on student loans: Student loans follow different rules. They are generally only released through a consumer proposal if you have been out of school for at least seven years. If student debt is part of your situation, we’ll review the dates with you before anything is filed.
If the checklist sounds close to your situation, the next step is not to decide everything today. It is to let us look at the full picture with you. We’ll explain what can be included, what may need special attention, and whether a consumer proposal makes sense before anything is filed.
The Consumer Proposal Process
We handle the process. You don’t have to carry every detail.
A Clearer Path Forward
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 provides a structured path forward and a clear timeline to resolve your unsecured debt.
Check Your Estimate
How much can you really save with a consumer proposal?
Many people are surprised by the difference between their current payments and what a structured proposal may look like.
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 show creditors, using your financial information and the Bankruptcy and Insolvency Act, why the offer is reasonable compared with what they may receive in 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 receive clear income, asset, and budget information. That structure helps them review the offer and understand why it was built the way it was.
Certainty Beats Chaos.
Creditors often prefer a structured monthly debt payment from a proposal over the uncertainty of chasing unpaid debt for years. A proposal creates a structured agreement with clear expectations for everyone involved.
We Handle the CRA.
If you have tax debt, CRA debt may also be included in a consumer proposal. Your tax filings generally need to be up to date, and we help structure the proposal through the same regulated process used for other unsecured creditors.
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 legal protection gives you room to breathe and deal with the problem through a plan, not constant pressure.
If you want to protect your assests
We draft your 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 address your unsecured debts.
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, our role includes two important responsibilities.
- 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 nearly three decades. We’re proud to be recognized for our commitment to clear guidance, practical solutions, and respectful support.
why bna debt solutions?
When debt feels overwhelming, we build a plan that works
Over three decades of trusted experience
With nearly three decades of helping Albertans, BNA Debt Solutions has built a reputation for steady guidance, realistic planning, and practical debt solutions. We’ve helped people move through difficult financial moments with clarity and care.
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.
Honest guidance from the start
You deserve clear numbers before anything is filed. At BNA Debt Solutions, there are no gimmicks and no hidden fees, just straightforward guidance about what is included, what is not included, and what creditors may look for.
Immediate relief and long-term benefits
Once a consumer proposal is filed, the Stay of Proceedings can stop most collection actions on included unsecured debts. From there, you make one structured monthly payment and follow a clear plan toward completion.
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 clear information, practical guidance, and greater confidence in your next steps.
Where trust meets expertise
You don’t have to face this alone. Our Licensed Insolvency Trustees and team members are with you through the process, offering clear guidance, steady communication, and real support from the first conversation to the final step.
DEFINE YOUR FUTURE
The hardest part is the first call. We handle the rest
You have carried this weight long enough. The first call is simply a conversation. We’ll listen, look at your situation, and explain what options may fit before you decide on anything.
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.
Why can consumer proposal payment estimates vary?
Consumer proposal estimates can vary because each situation is reviewed differently, including income, assets, creditor expectations, and long-term affordability. At BNA, we use nearly three decades of experience to build realistic proposals from the start, so the numbers are practical for your budget and prepared with creditor review in mind.
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 legal protection from most collection actions related to the included unsecured debts.
Will a consumer proposal affect my credit rating?
Yes, a consumer proposal affects your credit rating. It is generally reported differently from bankruptcy and remains on your credit report for a period of time after completion. Your Licensed Insolvency Trustee and the BNA team can explain what this may look like based on your credit history and timeline.
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.
RELIEF STARTS WITH A PLAN
Protect what matters. Start moving forward today.
You have carried this stress long enough. A Licensed Insolvency Trustee and the BNA team can help you understand your legal options, understand what comes next, and take the next step with a clearer plan.