Why More Winnipeg Residents Are Choosing Consumer Proposals Over Bankruptcy

Over the past decade, more and more residents in Winnipeg and across Manitoba have turned to consumer proposals instead of declaring bankruptcy. But why the shift?

Here are the top 6 reasons why consumer proposals are now the preferred debt solution in Manitoba:

1. You Keep Your Assets

Unlike bankruptcy, a consumer proposal lets you keep your home, vehicle, and other important possessions. This is a major reason why Manitobans prefer this option.

2. Less Stigma, More Control

Bankruptcy often feels like a last resort. A consumer proposal feels more like a structured plan—a way to take control of your finances without the same level of stigma.

3. Lower Monthly Payments

Consumer proposals allow you to negotiate significantly reduced debt payments, often 30–50% of the total owed, over a fixed term of up to 5 years.

4. Interest Stops Immediately

Once filed, interest on your unsecured debts stops accumulating, making it easier to catch up and get ahead.

5. You’re Protected from Creditors

Collectors, wage garnishments, and lawsuits are halted by law once your proposal is filed. This protection gives peace of mind to many Winnipeg families.

6. Faster Financial Recovery

A consumer proposal impacts your credit rating (R7), but the recovery time can be shorter than bankruptcy (R9). Many people start rebuilding their credit during the proposal term.

Real-Life Winnipeg Example:

A middle-income family in St. Vital with $65,000 in unsecured debt avoided bankruptcy and kept their home by filing a consumer proposal. With one affordable monthly payment, they protected their assets and are now rebuilding their credit.

Final Thoughts:

Consumer proposals are becoming the go-to option for Manitobans who want to resolve their debt while protecting what they’ve worked hard to build. At Lazer Grant, we’ve helped thousands in Winnipeg take advantage of this powerful alternative to bankruptcy.

Book your free consultation today and explore how a consumer proposal can work for you.