consumer proposal and creditor meeting

December 6th, 2009 by Questions

I have a meeting of creditors in my trustees office next Friday- I had too many no-votes for it to pass.

I am very anxious about what is going to happen in this meeting. Am I going to be signing am amended CP based on the new payment (which will be more). Will the creditors grill me on my assets and expenses? I have completely reworked my expenses by the way, so should I bring in my new monthly budget? Do I need to bring any other paperwork and how long do these meetings usually take. DO all the creditors show, or just the ones who dissented? What if no one shows and it`s just me and the trustee, how do we then make a counterproposal that would please them?

Posted from: Ontario


One Response to “consumer proposal and creditor meeting”

, Barton Goth - Goth & Company Inc. -Trustee in Bankruptcy said:

Likely the meeting is just a formality. Most times it is simply you and the trustee and the trustee will have contacted the creditors prior to the meeting an dhave a prety good idea what is going to take place. For more information you are best to simply contact your trustee as they may have conditional votes, or perhaps have already discussed the counter proposal with your creditors.

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