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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The team at JP Graci has always been very helpful, having this company help me get out of massive credit card debt has made my life so much better! All I know is that its very easy to get into debt wh...

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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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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...

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