Can you Withdraw A Consumer Proposal?

I recently filed a consumer proposal. It is in the process of being voted on. I would like to withdraw the proposal – is this possible? If I do and things don’t work out as planned can I move forward again at a later date?

Posted from: Ontario

One Response to “Can you Withdraw A Consumer Proposal?”

A licensed trustee said...

Certainly – this should have been explained to you BEFORE you filed. Your creditors have 45 days to vote on your proposal and you may withdraw your proposal if you do so in the first 60 days from the day you filed.

You should contact yoru trustee to discuss the procedure and the consequences.