What happens if my creditors vote against accepting my consumer proposal?


Every consumer proposal is unique and will depend on your creditors and other factors. Having a Licensed Insolvency Trustee negotiate with your creditors is your best option for a fair settlement. If the creditors vote 25% or more against accepting your proposal, the administrator will have to call a meeting of creditors. During that meeting, your Insolvency Trustee will help you negotiate with your creditors in an attempt to find an agreement that both you and the creditors find acceptable. Unfortunately, if 50% or more of the creditors reject the consumer proposal, the consumer proposal cannot continue.  If that happens, your Insolvency Trustee will help you find another alternative to help you deal with your debts.



If you are overwhelmed with a financial crisis, J.P. Graci & Associates Ltd can help! Call us now at 519-753-7361.



WHAT OUR CLIENTS SAY?

Thank you, Paul for helping get my life back on track.

J.S., Brantford June 28, 2016

Very informative and sensitive to my situation

Sam, Brantford July 28, 2017

My decision to declare personal bankruptcy was a very stressful one. I wanted the end result to teach me about money and how to become a better money management. The team at JP Graci was encouraging ...

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I am very happy with J.P. Graci & Associates. They went over and beyond to help me. Thanks a million

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I just wanted to express my own and my familys gratitude for everything you did to help us out

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Everyone is great, knowledgeable and friendly. The staff does their best to make you feel comfortable. I highly recommend JP Graci and Associates. I live in Brantford and it is really close to the off...

Katrina S. September 18, 2017

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