Start with unsecured balances
List each creditor and the amount you owe. Useful statements to gather include:
- Credit cards and store cards
- Personal loans and lines of credit
- Payday loans and overdrafts
- Tax balances and collection notices
Debt Repayment Calculator
DEBT PAYMENT CALCULATOR
Use this educational estimate to compare repayment paths. A Licensed Insolvency Trustee can explain what applies to you.
01Your starting point
Let’s put things in perspective.
CAD
Include credit cards, personal loans, lines of credit and tax debt. Leave out mortgages and secured car loans.
Choose a repayment period
60 months
Just numbers. No personal information needed.
Your illustrative paymentConsumer proposal
$125/ month
One monthly payment. A path forward.
Illustrative repayment 25%
Debt reduction 75%
Total you would repay $7,500
Illustrative debt reduction $22,500
No added interest in this proposal example
Spread over 60 monthly payments
An example, not a quote. Assumes repayment of 25% of your debt. Your actual offer depends on your income, assets and creditors, and requires a Licensed Insolvency Trustee’s assessment.
Understand the estimate
There is no standard consumer proposal repayment percentage. This calculator uses an adjustable example, not a prediction of creditor acceptance or eligibility.
Comparison loans use monthly payments and monthly interest at the stated annual rate. Credit counselling assumes full repayment without interest. Additional counselling or lending fees are excluded. All amounts are CAD and rounded to the nearest dollar. Actual payments and fees vary.
The bigger picture
Different paths. Different payments.
Compare the same debt over 5 years.
| Repayment option | Monthly payment | Total repaid | Monthly comparison |
|---|---|---|---|
| Consumer proposal25% repayment example, no added interest | $125 | $7,500 | |
| Credit counsellingFull repayment, 0% interest assumed | $500 | $30,000 | |
| Debt consolidationFull repayment, 12% annual interest | $667 | $40,040 | |
| Repay on your ownFull repayment, 19.99% annual interest | $795 | $47,683 |
Illustrations only. These options have different eligibility requirements and effects on your credit.
Beyond the numbers
What happens after the estimate?
A calculator is a starting point. A conversation with a Licensed Insolvency Trustee helps you understand your options.
- 01
Talk through your situation
Review your debts, income, expenses and assets with a trustee. Together, you can explore the options available to you.
- 02
Understand the offer
If a consumer proposal is appropriate, your trustee helps prepare an offer for your creditors. The calculator does not determine what they will accept.
- 03
Follow the agreed plan
If approved, you make the agreed payments and complete the required counselling sessions. A consumer proposal must be completed within five years.
Learn about the process from the Office of the Superintendent of Bankruptcy
Know what you owe
Different debts need different attention.
Bring your complete debt picture to a trustee, including balances you left out of this calculator.
Flag debts with special rules
Ask your trustee how these obligations would be treated in your circumstances:
- Mortgages and secured vehicle loans
- Student loans
- Child or spousal support
- Court fines and jointly owed debts
Listing a debt here does not mean it will be reduced or discharged. Compare debt solutions and their limitations
Make your next conversation easier
A little preparation.
A more useful conversation.
You do not need to have every answer. Start with what you know and write down anything you want explained.
Free ConsultationHave these details handy
- 01Your debt statements
Balances, interest rates and current payments.
- 02Your monthly budget
Take-home income and regular living expenses.
- 03Your assets and priorities
Property, savings and the questions that matter to you.
A little more clarity
Good questions.
Simple answers.
You do not have to figure it all out today.
A consumer proposal is a formal, legally binding offer to repay some or all of your unsecured debt. It is administered by a Licensed Insolvency Trustee and must be completed within five years. Creditors must accept the proposal.
No. This is an illustrative calculation. A trustee will review your debts, income, assets and financial circumstances to help determine a suitable offer. Creditors may require a different amount.
No. This calculator runs in your browser and does not request a credit report or submit your debt amount. Filing a consumer proposal does affect your credit record.
Many unsecured debts can be included, such as credit card balances and personal loans. Secured debts and certain obligations have different rules. A trustee can confirm how each debt is treated.
Why Choose Us
Why Our Clients Work With Brief & Associates
For over 50 years, we've helped thousands of Ontarians overcome financial stress through honest advice, compassionate guidance, and personalized debt solutions.
Fast Protection
Immediate relief from creditor pressure and collection activity where applicable.
Flexible Appointments
Meet with us in person, virtually, or by phone at a time that works for you.
Federally Licensed
Licensed Insolvency Trustees regulated by the Government of Canada.
Tailored Advice
Every financial situation is unique. We recommend solutions based on your specific needs.
Your First Step
Free Consultation
No obligation, no pressure. Just clear answers and trusted advice.
Schedule a Consultation
Testimonials
What Our Clients Are Saying
Thank you so much for the information! 🙂
We have finally made it. I am literally in tears that I have finally done it.
Savi, I want to thank you personally for your help during a time that was extremely difficult for me. The kids have grown to be productive and beautiful souls and your help to financially balance me out for these past years was instrumental. Keep helping people and families as it is a blessing. Once again my kids and I THANK YOU!
Warmest Regards
Pat and Debra were just amazing. They were very compassionate during this stressful time. Despite the current face to face Covid restrictions, I was able to sign my proposal without any direct personal contact in a manner that worked best for me and my personal safety.
Hi Angie! First I want to thank you again for your tremendous work for me yesterday. It is very exciting to see the good in people for a change. You have certainly made what I'm going through a lot easier to deal with. Thank you.
Your First Step Toward Debt Relief.
Speak Directly With a Licensed Insolvency Trustee
- Free Consultation
- Start with a confidential, no-obligation consultation.Tell us what’s happening and get clear answers about the options available to you.
- Understand Your Options
- Consumer proposal, bankruptcy, or another solution.We’ll review your debts, income and assets and explain which options may make sense for your situation.
- Virtual & In-Person Meetings
- Get help in the way that works best for you.Meet with us virtually or arrange an in-person consultation with our team.
- Areas We Serve
- TorontoOshawaKingstonBrockvilleCobourg