What could a payment look like?
Choose an illustrative total and a repayment term. These are your assumptions, not an offer.
$12,000 spread over 48 months
This is a payment scenario, not an eligibility decision or a quote. Your actual proposal depends on your circumstances and the formal process. .
For this illustration, the entered total includes any assumed fees. We divide it into equal monthly payments; no debt-reduction percentage is assumed.
What this calculator tells you
The calculation is simple: your chosen total repayment amount divided by your chosen number of months. It can help you compare payment schedules or understand a figure discussed with an LIT. It does not calculate an offer from your current debt balance.
What goes into the total?
If you already have a written proposal illustration from an LIT, use the total payable under that illustration and confirm what it includes. Do not add or remove administration fees yourself without checking. If you are experimenting with your own number, label it as a hypothetical amount in your notes.
A consumer proposal cannot extend beyond five years, according to the OSB's explanation of the process. The calculator's term limit reflects that maximum; it does not establish eligibility or an appropriate term for you.
Make room for the rest of your life
After viewing a payment, compare it with a realistic household budget. A payment that fits on screen may leave out an obligation that still needs to be paid.
- Start with reliable monthly take-home income.
- Subtract housing, utilities, food, transport and other essential costs.
- Include secured payments and debts that would remain outside the proposal.
- Set aside money for irregular bills and foreseeable changes.
- Compare the remaining amount with the illustrated payment.
Use the monthly budget worksheet to organise these figures. A shortfall is useful information to discuss, not a reason to hide an expense.
What it cannot decide
This tool does not assess assets, income rules, creditor voting, excluded debts or the terms creditors might accept. It does not estimate a debt reduction or replace professional advice. Even an affordable-looking number needs an individual assessment.
Only a properly qualified professional can assess the formal insolvency options available to you. Learn how to verify and contact an LIT. ConsumerProposal.ca is an educational publisher. Using this calculator does not file a proposal or create a professional-client relationship.
Sources and further reading
Sources checked October 29, 2026. Guidance can change; confirm how it applies with a qualified professional.
