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Credit Counselling and Consumer Proposals

Hello, I’m a bit confused since I’ve received different answers about this question; If I file a consumer proposal (DIVI type with debts > $75K), am I required to attend Credit Counselling sessions like in a regular bankruptcy ??

Thanks.

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One Response to “Credit Counselling and Consumer Proposals”

A licensed trustee said...

You’re mixing a few things together here. First there are two types of proposals: consumer proposals with debts less than $75,000, and Division I proposals with debts over $75,000.

The Bankruptcy and Insolvency Act explicitly requires individuals that file a consumer proposal to attend two counselling sessions.

The Act does not explicitly require individuals that file a Division I proposal to attend counselling, BUT there is a section of the law in the Division I section that states that all other sections of the Act, where appropriate, are applicable.

In practice, your trustee may decide whether or not counselling is appropriate and required. In our firm, we require all individuals to attend counselling as a term/condition of their proposal. There are only 2 sessions, they run about 45 minutes each and most people find them helpful.