Frequently Asked
Questions

We could reduce your unsecured debt to a fraction of what you owe and with a 0% interest rate, while stopping creditors and collectors from calling and legal action. The process is simple and can be completed in approximately 7 days. Once you reach out to us, a debt consultant will get in touch with you within 48 hours to discuss your unique situation and provide you with a debt relief proposal. If you decide to proceed, we will work with you to gather documents and prepare an application. Once the application has been submitted your Lower Debt Solutions agent will book a video call with an administrator to sign the documents and begin the program.

You need to be a Canadian resident with an income, and with more than $10k in unsecured debt. Examples of debt that qualify are credit cards, loans, lines of credit, overdrafts, old utility bills, tax debt, etc. Debts that cannot be included are secured debt like mortgages, car loans, legal penalties, child support, student loans less than 7 years from the last date of school.

Your credit score will be negatively affected the same as if you have missed payments or stopped paying on your debts. It will remain on your credit report for 1 year after the 5-year period or 3 years from the date you completed paying whichever comes first.

It is important that you regard a Consumer Proposal as a positive step and the effect on your credit score is temporary.

If you are struggling to meet your existing debt payments then having great credit does not necessarily help much. Our clients believe that a short term impact to their credit is well worth it in order to reduce their overall debt burden and live with less stress.