Debt Repayment & Consumer Proposal Calculator
Table of Contents
Debt Repayment Calculator
This interactive calculator allows you to directly compare the monthly payment costs associated with different debt relief solutions, giving you a clear and accurate picture of your financial options. By understanding how each path impacts your monthly budget, you can make informed decisions about resolving your balances and regaining control of your finances. To use the tool, simply enter your total unsecured debt amount into the field provided. The calculator will automatically generate estimated monthly payments for various scenarios, helping you visualize the most effective route to financial stability.
Enter Your Total Unsecured Debt
| Options To Eliminate Your Debt |
Monthly Payment (approximate) Over 5 Years |
Total Cost Over 5 Years |
Total Savings Over 5 Years |
|---|---|---|---|
|
Consumer Proposal Settlement For Less Than Principal debt amount |
|
||
|
Credit Counselling No Negotiate principal reduction |
|
||
|
Debt Consolidation With on going applied interest cost |
|
||
|
Repay Debt on Your Own Monthly payment with on going interest cost |
|
Debt Relief Options
Understanding Consumer Proposals
A consumer proposal is a formal, legally binding agreement negotiated through a Licensed Insolvency Trustee to pay back a portion of what you owe based on what you can actually afford. This process stops collection calls, freezes interest, and allows you to keep your assets while resolving your debt through manageable monthly payments.
Understanding Credit Counseling
Working with a credit counsellor involves creating a debt management plan to pay off your creditors in full over a specified period, often with reduced interest rates. This option helps you consolidate your obligations into one predictable monthly amount while receiving valuable budgeting education to prevent future financial strain.
Understanding Debt Consolidation
Debt consolidation involves taking out a single new loan to pay off multiple existing debts, leaving you with just one monthly payment to track and manage. This approach can lower your overall interest rate and simplify your finances, provided you qualify for a favourable loan term from a traditional lender.
Understanding Repaying Your Debt
Continuing to repay your debt on your own requires strict budgeting and discipline to pay down principal balances alongside ongoing interest charges. While this method protects your credit score from the impact of formal insolvency or restructuring programs, it often takes significantly longer and costs more out of pocket over time.
Contact Our Debt Repayment Specialist
Figuring out the right path forward can feel overwhelming, but you do not have to navigate this situation alone. A Licensed Insolvency Trustee possesses the expertise to assess your unique financial standing and guide you toward the most effective solution for your specific needs. They are federally regulated professionals who prioritize your financial well-being, ensuring you understand the practical benefits of every available choice.
At Remolino & Associates, our team provides clear, objective advice to help Toronto and Ontario residents eliminate debt and regain their peace of mind. Contact Remolino & Associates today for a confidential consultation, and let us help you build a concrete plan for a debt-free future.
Service Areas
- Barrie
- Belleville
- Brampton
- Brantford
- Brockville
- Burlington
- Cambridge
- Chatham
- Consumer Proposal Toronto
- Cornwall
- Guelph
- Hamilton
- Huron
- Kingston
- Kitchener
- Leamington
- London
- Markham
- Mississauga
- Newmarket
- Niagara Falls
- North Bay
- North York
- Oshawa
- Ottawa
- Ottawa West – Kanata
- Parry Sound
- Pembroke
- Peterborough
- Sarnia
- Sault Ste. Marie
- Scarborough
- St. Catharines
- Stratford
- Sudbury
- Thunder Bay
- Timmins
- Toronto Downtown
- Toronto Etobicoke
- Toronto Yonge & Bloor
- Vaughan
- Windsor
- Woodstock