One Response to “Can I stop a judgement if I file for Consumer proposal?”
Desmond West-Chow, CIRP said...
One of the key benefits of filing a consumer proposal through is that there is indeed legal protection from your creditors. As a process that falls under the federal legislation of the Bankruptcy and Insolvency Act, individuals that file a consumer proposal both have the advantages of avoiding a bankruptcy while still being having an automatic stay of proceedings (or protection) from creditors. What the stay of proceedings means, more specifically is that creditors are not entitled to contact, collect, initiate any legal proceedings or continue any under way.
One of the key benefits of filing a consumer proposal through is that there is indeed legal protection from your creditors. As a process that falls under the federal legislation of the Bankruptcy and Insolvency Act, individuals that file a consumer proposal both have the advantages of avoiding a bankruptcy while still being having an automatic stay of proceedings (or protection) from creditors. What the stay of proceedings means, more specifically is that creditors are not entitled to contact, collect, initiate any legal proceedings or continue any under way.