We’ll guide you to your best solution - a consumer proposal or filing for personal bankruptcy.

No matter who you are, what you do or how much debt you have, we’re always completely transparent about all your options, and the possible pros and cons to each one.

Consumer Proposal

A consumer proposal is a very attractive option because…

Personal Bankruptcy

Filing for Personal Bankruptcy is usually used as a last resort...

Consumer Proposal

A consumer proposal is a very attractive option because…

You don’t have to pay any interest - that’s right 0% - and we can help you settle your debts for much less than you owe.

On average, our clients only pay back 37% of their current debt load. That is a significant decrease!

A Proposal can only be administered by a Licensed Insolvency Trustee, not an accountant or a lawyer, and there are two things to consider:

  1. There must be an advantage to the creditors to accept the terms, which means they need to get back more than they would if you filed for bankruptcy or they will turn it down.
  2. If you have little money to pay toward the debt, then this might not be the right option for you.

The advantages are many when you opt for a consumer proposal. A few of them are that you can include your tax debt to Canada Revenue Agency; your payments can possibly be amended if your circumstances change; you will receive financial counselling; and you don’t pay any additional fees or interest to your Trustee.

The disadvantages are that the Proposal usually takes longer than a bankruptcy, costs the debtor more than a bankruptcy, and secured loans can not be included.

We can talk confidentially about the pros and cons to Consumer Proposals, when we meet in person during your FREE consultation

Personal Bankruptcy

Filing for Personal Bankruptcy is usually used as a last resort. It is the best option to consider when you’ve fallen on hard times and simply can’t pay back what you owe. For people in this situation, they feel a tremendous sense of relief once they decide to move forward.

You need to know that YOU DON’T LOSE EVERYTHING AND NOT EVERYONE NEEDS TO KNOW when you file for bankruptcy. That is a big misconception.

It is a legal process, administered by a Licensed Insolvency Trustee, to relieve you of most of your debts. In the process, your creditors write off the debt owed to them. So no one is paying those debts off for you. The creditors losses are covered by the steep interest rates they charge to extend credit through unsecured lines of credit and credit cards.

The process for a first bankruptcy takes a minimum of nine months, and longer in certain situations. We’d be happy to discuss this with you further in your confidential consultation.

The advantages are many, including immediate relief from your creditors; such as we can stop a wage garnishment: the ability to restore your utilities if they’ve been disconnected; and you can surrender a leased or purchased vehicle without having to pay out the balance of the contract.

The disadvantages include giving up all of your credit cards; it will affect your credit report for 6 years (14 years if you’ve filed previously); and you can’t change your mind once the papers are signed.

We promise to take the time to fully explain each option in a FREE consultation, that’s completely confidential.


I was referred to BNA Debt Solutions and from my first contact with Nicole I felt at ease. There was no judgement and she answered every one of my questions thoroughly and I felt very comfortable with her. She made sure to show all options for our situation and met with us outside business hours to accommodate our needs. Barry also was very friendly and accommodating to our schedule and educated us on how easily debt can get out of hand. Before I reached out to BNA, I was stressed, anxious and felt like I had no solution to my debt problems but now 2 weeks later I feel like I can breathe again and there is a light at the end of the tunnel. We still have a long way to go but now I feel like I'm more in control of our situation. Don't delay if you are struggling with debt. Reach out! BNA has the answer and can send you in the right direction. I'm so glad I did!!!


The customer service at BNA is outstanding. For such a stressful situation, Nicole (my administrator) made me feel so at ease. If anyone is considering a consumer proposal, I would HIGHLY recommend working with BNA. One of the greatest reasons why is that you will not feel judged and will never feel embarrassed. For a decision that seemed so scary and intimidating, it actually turned out to be so straight forward and simple (on my end). Nicole was so efficient throughout the process. She responds to emails almost immediately and was always there to answer all my questions. I can not thank Nicole enough for all her work on my file and once again, I would highly recommend the services of BNA to help you through this process. Although this decision will affect my credit for the next several years, it was a wonderful experience to have worked with such a great team at BNA. I feel so relieved now that my file has been submitted. What a huge weight off my shoulders! Thank you Nicole, and the team at BNA. You are all great human beings.


My experience with BNA Debt Solutions has been nothing short of excellent. Lanaia and the team are extremely diligent, helpful and are solution based oriented. Being in a position to require their services, is less than desirable and the process is not pleasant. With that being said, the team I worked closely with was extremely timely, effective and empathetic. I had consulted with other trustee offices in the past and was made to feel ashamed and regretful. BNA offered sound, honest advice and softened the blow of this whole process. I have referred several individuals in unfavorable financial positions to them, with high recommendation, after my personal experience.


BNA Debt Solutions has provided us with the best service possible by prompt attention to our request for assistance, one on one meetings to determine the best options for our financial situation, promptly answering any questions we had and walking us step by step through the process required to make a decision that would meet our needs. In addition, the counselling sessions are beneficial and informative in moving forward towards solutions for successful money management. The staff are all courteous and professional and we would highly recommend this company.


What more can I say?! As soon as you walk into BNA, feeling of relief comes upon you! The staff make you feel so comfortable, as if you were talking to a long time friend. Trust me, I'm glad I made an appointment here!!


My experience with BNA Debt Solutions has been very positive. It was my own choices that resulted in me having financial difficulties so of course I have no one but myself to blame for that. However, Paige and Glen were very clear about the choices available to me and gave me ample time to make the best decision for my particular circumstances. I closely followed the program they set up for me and the outcome couldn’t have been better. For me learning to keep a detailed budget of monthly expenses (something I’d never done before), has been worth so much that I’m continuing it even after my bankruptcy was discharged. My advice to anyone in a similar situation would be to take the process seriously, follow whatever program is set up for you and you will achieve a desirable outcome. I highly recommend BNA Debt Solutions.


Glenn was extremely kind and personable during a time like this where you feel extremely vulnerable. He stayed in contact with me prior to, during and after. I felt confident to go through the process and like I was being completely taken care of.


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.


It is difficult during times of uncertainty to select a stranger to assist you with a problem as sensitive and far-reaching as mine. To my benefit, BNA Solutions (“BNA”) was the stranger I selected. The representative I spoke with was forthright with what I needed to know and do, as well as sensitive to what I was experiencing when I reached out for their help. BNA stepped in and acted on my behalf with a variety of creditors and other parties in order to help me to succeed.


Filing for corporate and personal insolvency was one of the hardest decisions I have had to make. It was easily the most stressful situation I have ever dealt with. When I finally made the call to file, I was met with complete passion and was very comfortable dealing with BNA Solutions. Never let yourself think that there is no solution to the problem. Call BNA Solutions!


BNA was great from the start. Very easy to communicate and they were very informative as to what our options were. I would highly recommend then to anyone as it was nice to have someone on our side. Thank you Barry and Paige for making this an easy process.


I had been carrying the weight of the world on my shoulder because of the debt load During this stressful time of my life and with a proposal under the bankruptcy act looming over my head I decided to make an appointment with a few Bankruptcy Trustees.
In one case I had the initial meeting with the Trustee and then requested an additional meeting to discuss further questions and I was told that they don’t have additional meetings that unless I signed with them. I didn’t feel comfortable doing that until I had my additional questions answered. I called my lawyer and he recommended Barry Nykyforuk. I am glad I did!
I met with Barry Nykyforuk and found him to be very professional, non judgemental and very informative. He answered all my question and I am happy with BNA Solutions.