Consumer Proposal Vancouver: Costs, Process, and Licensed Trustees (2026)

A consumer proposal in Vancouver lets you legally reduce unsecured debt by 30–80%, freeze interest and collection calls on day one, and pay a fixed monthly amount over up to 5 years — with all-in costs between $1,500 and $3,500, covered by your proposal payments.

Consumer Proposal in Vancouver: Real Costs for 2026

Metro Vancouver has among the highest household debt-to-income ratios in Canada. Combined with mortgage renewal shock and a tech sector slowdown, consumer insolvencies in the region rose 22% in 2024.

A consumer proposal is the most common formal debt solution in BC — and for good reason. It lets you settle unsecured debt at a fraction of the total amount, stop collection immediately, and keep your home.

What a Consumer Proposal Does

Filed through a Licensed Insolvency Trustee under federal law, a consumer proposal is a legally binding offer to repay a portion of what you owe over up to 60 months. Creditors get more than they’d receive in bankruptcy. You get a manageable payment and legal protection.

Immediately upon filing:

• All unsecured collection stops (garnishment, calls, lawsuits)
• CRA collection is frozen
• You keep your home and car as long as payments continue

Vancouver-Specific Costs

Metro Vancouver residents carrying the median $38,000 in unsecured debt (2024 OSB data for BC) typically see:

Actual amounts vary. Free consultation with a trustee confirms your specific numbers.

Why Vancouver Residents Are Filing in 2026

• Mortgage renewal shock — Lower Mainland residents renewing 2020–2022 mortgages are facing $700–$1,200 monthly payment increases, pushing credit card minimums aside
• Leaky condo and strata assessments — Unexpected special levies of $20,000–$60,000 are driving Metro Vancouver homeowners into credit card debt they can’t clear
• BC tech layoffs — 2024–2025 layoffs at Meta, Amazon, and smaller Vancouver tech firms have left high-earning workers with large credit balances and reduced income
• CERB and pandemic loan repayments — CRA is the largest single creditor in approximately 30% of BC consumer proposals

BC Provincial Protections

Under BC’s Court Order Enforcement Act:

• Wage garnishment requires a court order (unlike some provinces)
• Basic personal property exemptions protect household goods and clothing
• RRSP contributions (except the last 12 months) are exempt in bankruptcy — but in a proposal, they’re protected entirely since you don’t go bankrupt

A consumer proposal provides stronger protection than these provincial rules alone because the federal stay of proceedings applies immediately and comprehensively.

Finding a Licensed Insolvency Trustee in Vancouver

Licensed Insolvency Trustees in BC are licensed federally. Metro Vancouver has offices in downtown Vancouver, Burnaby, Surrey, Richmond, Coquitlam, and the North Shore.

Only a Licensed Insolvency Trustee can file a consumer proposal. Initial consultations are always free and confidential.

Use our Find a Licensed Insolvency Trustee directory to locate trustees by city or postal code across BC.