Majority ‘No’ vote on consumer proposal
November 9th, 2009 by Questions
If I get a majority ‘no’ vote for my CP, is a physical meeting always scheduled within 21 days? Or, will the creditor voting ‘no’, make a counter offer right away, rendering a meeting unnecessary. I would agree to any counter offer to avoid bankruptcy. How does this work?
PS, My CP is giving them 40% of what I owe (around $35,000). From your blog, it seems 50% usually garners a yes vote, so am worried that I may get a no vote.