It is an agreement to pay something back to your creditors when you find that you are unable to pay your debts in the normal course. The payment schedule which is created in consultation with a Trustee is based on your income, living expenses & family responsibilities. Every Consumer Proposal is unique to the financial circumstances of each individual.
These questions and answers provide a brief summary of the most common questions asked. However, these questions do not address all the issues that may be applicable to your specific situation. Further questions can be answered by calling Paul J. Pickering and Associates Limited, Licensed Insolvency Trustee.