Can consumer proposal be rejected by creditors?
what is the maximum amoint of monthly payment that have you seen in your career somebody paid for proposal just becuase the monthly income was high?
consumer proposal
posted by Questions @
1 Expert Comment:
At June 4, 2010 |
7:01 am
, Bart Goth, Trustee in Bankruptcy Said...
Yes, a consumer proposal can be rejected by creditors. If we don’t get the requisite majority of votes (i.e. 50% of proven creditors) the proposal is rejected.
In terms of the maximum amount I have seen, it varies significantly. I have seen payments as low as $100 per month, and I have seen payments of up to $5,000 per month.
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