Personal debt solutions

If you are struggling with credit cards, tax arrears to the CRA, student loans, payday loans, car payments, and wage and bank account garnishments we have solutions.

Free consultation, no obligation

Our consumer consultations are FREE with NO obligation! We offer an initial phone call to assess your debt situation and assist you with the appropriate professionals. Please note, referring to supporting documents for exact numbers will assist on having a more accurate financial assessment. During the meeting, you will be asked to provide information about your: 





Debt Amount

Consumer Proposals

If you're struggling with multiple debts, a consumer proposal may be a good option for you. A consumer proposal is a legal process that allows you to negotiate a repayment plan with your creditors. A Licensed Insolvency Trustee is a trained professional who can help you understand your options and make the best decision for your financial situation.


Bankruptcy is a legal process that allows individuals to be released from their debt obligations. It provides a fresh start for those struggling to pay their bills and unable to find relief through other means. This can provide you with the financial breathing room you need to get back on your feet and start rebuilding your credit.

Consumer Proposals

Is a consumer proposal right for me?

When you have multiple debts it can become difficult to keep up with your payments. If you are struggling to pay down your debts and you would like some help, speak to a Licensed Insolvency Trustee about a consumer proposal.

A Consumer Proposal may be an alternative to Bankruptcy if you are able to make some payments each month but not the full amount. While this is not a consolidation loan, it is a way to consolidate your debts!

Creditors typically like a Consumer Proposal over a Bankruptcy so they receive a portion of the payment instead of no repayment at all!  This process will initially affect your credit rating, however, the consistent monthly repayments will help rebuild your credit while you Shed The Debt! 

One affordable payment

A Licensed Insolvency Trustee will negotiate with your creditors to bring down your monthly payments into 1 affordable monthly payment with ZERO interest charges and you keep your assets!

Government approved

A Consumer Proposal is a program approved by the Canadian Government that typically takes 60 months to complete. Court approval can take as little as 60 days, depending on the amount of debt owed. It's important to be consistent and not miss any payments.

Less than $250,000

If your unsecured debt is less than $250,000, a Consumer Proposal could be the solution to your debt problems! Don’t stress, if your debt is over $250K we have a different solution for you!


Bankruptcy is a legal process which grants you allowance to be discharged from your debt

Three ways to go bankrupt:

Voluntary Assignment

Voluntary assignment is where insolvent persons make an assignment of all their assets for the general benefit of all creditors.

Involuntary Assignment

Involuntary assignment is when a creditor files a petition in a provincial court for a receiving order against the debtor's assets, known as being petitioned into bankruptcy*

Deemed Bankruptcy

Deemed bankruptcy is when a debtor, who has started the insolvency process, has failed to meet the requirements for filing a Division I proposal in bankruptcy under the Bankruptcy and Insolvency Act or has failed to adhere to the provisions provided within the proposal after it has been filed and accepted by the creditors/court*

Benefits of Bankruptcy

When you claim Bankruptcy the Licensed Insolvency Trustee is required to collect the equity that remains in your assets. However, the below are exempt assets that the Trustee cannot collect.


  • Household furniture, appliances up to $14,180.
  • Personal clothing of unlimited value
  • One motor vehicle up to $7,117
  • Tools of your trade up to $14,405.
  • In the case of a farmer, livestock, fowl, bees, books, tools and implements and other chattels ordinarily used by the debtor in the debtor’s occupation up to $31,379.
  • Most pension plans, life insurance policies, and certain RRSPs

Nova Scotia

  • Food and fuel
  • Personal clothing
  • Household goods up to $6,500, more in some cases
  • One motor vehicle up to $3,000, or up to $6,500 if needed for work
  • Health and medical aids
  • Tools of the trade up to $1,000
  • Seeds and livestock for domestic use

New Brunswick

  • Food and fuel for a three month period
  • Personal clothing
  • Household furniture and appliances up to $5,000 (more in some cases).
  • One motor vehicle used for employment up to $6,500 (more in some cases).
  • Tools of your trade up to $6,500
  • Farm animals to specified limits, their feed for six months, and seeds to specified limits.
  • Health and medical aids
  • Items needed for religious services
  • Household animals
  • Pension plans

New Newfoundland & Labrador

  • Food and fuel for a twelve month period
  • Clothing up to $4,000
  • Household furniture and appliances specific types, up to $4,000
  • One motor vehicle up to $2,000
  • Tools of your trade up to $10,000
  • Farm or fishing or aquaculture property up to $10,000
  • Principal residence: up to $10,000
  • Health and medical aids
  • Pets
  • Personal items of sentimental value up to $500
  • Certain pension plans & income

Prince Edward Island

  • Food, fuel, household furniture, appliances up to $2,000
  • Personal clothing
  • One motor vehicle (needed for occupation) up to $6,500
  • Tools of your trade up to $2,000
  • Health and medical aids
  • Seed for up to 100 acres, other up to $5,000
  • RRSPs with beneficiary a family member: no dollar limit

*Last updated December 2022

Credit Counselling

Every consumer client of Goldhar & Associates Ltd. is required to attend 2 credit counselling sessions. These credit counselling sessions will teach you how to rebalance your finances, and teach you about smart shopping and the healthy use of future credit and credit cards. If these two sessions don’t leave you feeling confident just ask for another one!

First Session

This Counselling Session, the first of two required under the terms of the Bankruptcy and Insolvency Act, is your first opportunity to sit down (virtually) with your Goldhar Debt Counsellor to talk about how your debt load became unmanageable. In this session you will review the basics of credit, debt, and the particular speed bumps that led to your financial stress. With the help of your Goldhar Debt Counsellor, you will lay the groundwork for a fresh financial future that will put you on track to achieving your goals and dreams.

Second Session

Your Goldhar Debt Counsellor will help you assess your progress, and ensure you have the knowledge and budgeting tools you need to realize your financial goals and your personal dreams. We will help you rebalance your credit score and give you the tips you need to manage a debt free future!