A Powerful Debt Solution to Help you Get Back on Track

If you’re overwhelmed by debt and struggling to keep up with payments, a consumer proposal could be a viable option. This legal process allows you to settle your debts with creditors for less than you owe, offering you a fresh financial start.

Applying won’t affect your credit score

Find Relief from Debt with a Consumer Proposal

Unlike bankruptcy, a consumer proposal doesn’t involve liquidation of your assets, and you can keep your property while working towards becoming debt-free.

Our Debt Management Services

National Credit Help Program™

Take back control of your credit

Consumer Proposal

Keep your assets

Bankruptcy

Get a fresh start

Business Debt Management

Get your business back on track

Why Choose a Consumer Proposal Over Bankruptcy?

Keep your assets while finding debt relief

A consumer proposal offers several advantages over other debt relief options:

  • Retain Your Property: Unlike bankruptcy, you can keep your home, car, and other assets.

  • Affordable Repayment: You only pay what you can afford, typically over 3 to 5 years.

  • Legal Protection: Once your proposal is filed, creditors are prohibited from contacting you, and legal actions like wage garnishments or collection calls stop.

    While your credit score will be affected, a consumer proposal is less damaging than bankruptcy and provides a path toward rebuilding your credit once you’re debt-free.

Curious About a Debt Solution?

We help you assess your situation and choose the best debt management solution for your needs.

Debt Management FAQ

  • Yes! Once filed, a consumer proposal legally halts collection calls, wage garnishments, and lawsuits, providing immediate relief.

  • In many cases, yes. If your vehicle is below the provincial exemption limit or financed and you continue making payments, you may be able to keep it.

  • If your business debts are personally guaranteed, you’ll still be responsible for them. However, if they’re strictly under your business entity, they may not affect your personal bankruptcy.

  • You can explore debt restructuring, refinancing, consolidation, or creditor negotiations to lower payments and keep your business running.

A Partner You Can Trust

Personalized solutions for debt relief

At The Source, we know that managing debt can be overwhelming. Our experts provide personalized guidance and strategic solutions to help you regain control of your finances. With transparent options and dedicated support, we’ll work with you to create a clear path toward financial stability.

What our customers say about us

  • "The Source helped me secure the funds I needed quickly and easily. The process was straightforward, and their team was fantastic to work with!"

    Sarah L.

  • "I was nervous about applying for an unsecured loan, but The Source made it stress-free. They explained everything clearly and got me approved in no time!"

    Mark T.

  • "Thanks to The Source, I’ve consolidated my debt into one manageable payment. It’s such a relief to finally feel in control of my finances -thank you!"

    Emily R.

  • "The Source's credit help services were a lifesaver. They guided me through improving my credit score and qualifying for better loan options."

    James K.

  • "Getting a HELOC with The Source was a game-changer for our home renovations. The terms were great, and the funds were there when we needed them."

    Lisa M.

  • "I needed a second mortgage for some big expenses, and The Source delivered. Their team made the process smooth and hassle-free."

    Hirad W.

  • "When an emergency came up, The Source came through for me. Fast approval, great service, and peace of mind when I needed it most."

    Jessica P.

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