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.



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JP Graci and Associates is a wonderful organization. All staff members that I spoke with were very professional and friendly. Everyone was very motivated to help me and they worked very hard to deal w...

Tony M December 11, 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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This service is amazing! The team at JP Graci helped me with the stressful decision of going through a negotiation an understandable and simple process. From the explanation to instructing me on the r...

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HI Paul. Once very long ago my husband used your services, thank you ... you helped him get his life back on track. I work with mortgages. At times I help my client settle with creditors to get them b...

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You guys are the best. I refer you to anyone I know who needs help. Thanks again

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