Comments on: Consumer Proposal Annullment http://www.bankruptcy-canada.ca/consumer-proposals/2008/10/consumer-proposal-annullment.html Personal Bankruptcy Canada Blog Fri, 10 Feb 2012 15:23:44 +0000 hourly 1 By: Ted Michalos, CA trustee http://www.bankruptcy-canada.ca/consumer-proposals/2008/10/consumer-proposal-annullment.html#comment-65746 Ted Michalos, CA trustee Sat, 01 Nov 2008 11:27:21 +0000 http://www.bankruptcy-canada.ca/consumer-proposals/2008/10/consumer-proposal-annullment.html#comment-65746 There are no such rules to find - if a creditor does not respond to a proposal it simply means they will not receive their portion of the proposal money (all of the other creditors will get their share instead). If you had completed the proposal then the debt would still have been discharged (eliminated). Unfortunately you did not complete the proposal and therefore all of your creditors, including anyone that did not respond to the proposal, has the right to pursue you for the money that you owe them... Sorry, but you're back where you started... There are no such rules to find – if a creditor does not respond to a proposal it simply means they will not receive their portion of the proposal money (all of the other creditors will get their share instead). If you had completed the proposal then the debt would still have been discharged (eliminated).

Unfortunately you did not complete the proposal and therefore all of your creditors, including anyone that did not respond to the proposal, has the right to pursue you for the money that you owe them…

Sorry, but you’re back where you started…

]]>