Consumer Proposal – Behind the Scenes
December 14th, 2009 by Questions
After the 45-day passage, and prior to the creditors meeting (which is being held due to the CP not passing), what goes on behind the scenes with the trustee and creditor.
1.Do they negotiate a new deal back and forth and then present it to the debtor at the meeting?
2. Does the creditor simply ask for more money and then the trustee will just tell me?
3. If there are still no proofs of claim submitted by the time of the creditors meeting, (45+21 days) or simply no contact made by the creditor to the trustee, then what happens? Does it collapse?
Posted from: Ontario