Consumer Proposal Timeline File Consumer Proposal

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Presentation transcript:

Consumer Proposal Timeline File Consumer Proposal (Debts less than $250,000) File Consumer Proposal (automatic protection from creditors) 45 days No request for meeting, proposal deemed accepted Meeting requested by creditors (meeting must be held within 21 days of request) 15 Days Proposal accepted by creditors Proposal rejected by creditors (no automatic bankruptcy) Deemed Court Approval Stay of Proceedings Lifted (collections can resume) Fulfill terms as stated in Proposal (You make the payments) Certificate of Full Performance Debtor may assign into bankruptcy Debtor released from debts (Except S178 liabilities) Boale, Wood & Company Ltd. (604) 605-3335 Offices located in Vancouver, Coquitlam, Surrey, Abbotsford, and Sechelt Also serving the Yukon Territory

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