do nothing
What happens if you don’t declare bankruptcy or submit a consumer proposal? I could change banks and have an unlisted phone number. What happens if this debt never gets paid? Do the creditors ever give up and consider it(not collectable)? We don’t ever want to use credit again. For this reason,we consider our credit rating a non-issue.
What the creditors will do is largely a function of your circumstances. Typically they won’t just go away, they will apply to court to receive a judgment, which enables them to garnishee wages, seize bank accounts and other personal property, and register against any real property. Typically an unlisted number will provide a small reprieve, but it is amazing how inventive the collection agents get and the information they can uncover. As for how long, it can go on indefinitely, it is only rarely that creditors simply give up.
For more information and as a result of some of the provincial differences that exist, I suggest you contact a licensed trustee in your area and he will be able to clarify any of these details.