Calculator
Consumer proposal vs. bankruptcy
Move the three sliders to see what each route is likely to cost you every month. These are approximations — a free consultation gives exact numbers.
Your financial situation
Total unsecured debt$40,000
$5,000$250,000
Monthly take-home income$3,500
$1,000$10,000
People in your household2
18+
The surplus-income threshold for 2 people is $3,472 a month. Income above that figure raises what you'd pay in either process.
Consumer proposal
Likely better fit- Monthly payment
- $200
- Duration
- 60 months
- Total repaid
- $12,000
- You save
- $28,000
Repay about 30% of what you owe. Keep your assets, stop creditor calls, one monthly payment.
Bankruptcy
- Monthly payment
- $214
- Duration
- 21 months
- Total repaid
- $4,494
- Surplus income
- $14
A fresh start with legal protection. Some assets are affected, and surplus-income payments apply when your income is above the threshold.
These are estimates only. Actual amounts depend on your full financial picture, your assets, and what your creditors agree to. A free consultation gives you exact numbers.