Category Archives: Consumer Proposal

After your consumer proposal has been filed, the creditors have 45 days to respond to the Licensed Insolvency Trustee.  They can either: vote for, against or abstain from voting. On the 46th day, the trustee will review the votes and determine, based on the votes received, if the consumer proposal has…

Consumer proposals are becoming an increasingly popular alternative to bankruptcy in Canada. While there are many benefits to filing a consumer proposal there are two that stand out most: You can keep assets that you might lose if you were to file for bankruptcy, Your monthly payments may be less…

We are often asked, “Is there a minimum amount I can file a proposal for?”  The answer depends on how you interpret the question. We’ll answer that question by looking at: Is there a minimum debt amount to be eligible to file a consumer proposal? Is there a minimum amount…

Recently, many bankruptcy trustees have started calling themselves consumer proposal administrators without actually explaining what that term means. As the name suggests, a consumer proposal administrator manages the consumer proposal process. To the best of my knowledge, the government has not issued any consumer proposal administrator licences in Canada outside…