1. 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)
Offices located in Vancouver, Coquitlam, Surrey, Abbotsford, and Sechelt
Also serving the Yukon Territory