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?

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

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

Dave W. February 18, 2017

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

J.S., Brantford June 28, 2016

Thank you, you made my job so much easier.

F.V. April 25, 2015

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

Anne L. July 21, 2017

The staff were lovely and incredibly helpful. They were empathetic with my stress from the bankruptcy. They also gave great advice on my credit recovery. Thanks especially to Paul for his service and...

Frank S. July 25, 2017

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