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How can we help you?

If you have unsecured debt of under $10,000 and live in the Province of Ontario filing bankruptcy may not be the best option for you. We suggest you contact the Office of the Superintendent of Bankruptcy at 416-973-6441 to discuss your options, or you can visit their website here.

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I understand that Bankruptcy-Canada.ca does not provide debt relief services directly and agree to securely share this information with a local Licensed Insolvency Trustee (LIT) for a free, confidential consultation.

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Are consumer proposals often refused?

My husband and I are considering contacting a trustee about filing a consumer proposal. We owe over $55,000. How common is if for creditors to turn down a consumer proposal? And what are our options if that happens?

Thanks for your time.

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One Response to “Are consumer proposals often refused?”

A licensed trustee said...

In our practice consumer proposals are accepted by the creditors in over 95% of all cases. It is important to use the services of a qualified proposal administrator who will advise you on what terms will likely be acceptable to the creditors, while still making sense in your situation.