How To Start The Consumer Proposal Process In Canada?
You’ll need to contact a trustee and discuss the consumer proposal option. The trustee will tell you which documents you need to bring for review.
In the initial consultation with the trustee, he or she will determine the type of settlement you can afford as well as what your creditors will likely accept. In most consumer proposals, you will make monthly payments, not pay in one lump sum.
Once you and the trustee have decided on the terms of the proposal, you’ll sign the required legal documents. The trustee will file these documents with the Office of the Superintendent of Bankruptcy.
Thanks, Lloyd, for all your help. You have been wonderful! I truly feel more calm and at ease. Thanks again.
C.P. (North York)