consumer proposal

Posted on Thursday, October 23, 2008

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i would like to file a consumer proposal, but i am nervous that it won`t get accepted. how often is a proposal rejected? is it very common?

Filed under: Consumer Proposals
 posted by Questions @ 9:37 pm
1 Expert Comment:

 At October 24, 2008 | 7:46 am , Barton Goth, Trustee in Bankruptcy Said...

The vast majority of proposal are accepted, at least the ones that are done through our office as I can’t speak to other trustee’s experiences. Although, I don’t think this is unique to our office, I think it is more representative of the creditors desires to achieve a greater level of recovery.

Now this doesn’t mean that we don’t have to negotiate the terms and amounts, and often sweeten the pot so to speak, but that is really built into the process.

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