How Long Will a Consumer Proposal Last?
When you file a consumer proposal, it can last for any period not exceeding 60 months. The main reason why a consumer proposal cannot last longer than 60 months is that research has shown that proposals that are longer than 60 months are unsuccessful. The reason why is because some people cannot stay committed to paying it off. With a consumer Proposal, you can make a one-time lump sum payment and the consumer proposal can be completed in a matter of 8 weeks.
If you are overwhelmed with a financial crisis, J.P. Graci & Associates Ltd can help! Call us now at 519-753-7361.
MORE QUESTIONS
Do I qualify for bankruptcy? How long will I be bankrupt? How much will it cost? How will my credit rating be affected? If I declare bankruptcy, will I lose everything? Should I declare bankruptcy? Will I still be responsible for some debts after filing for bankruptcy? Does Filing for Bankruptcy in Canada Affect My Spouse? What is a bankruptcy discharge and the process involved? What is the OSB and what are their responsibilities? If I file a proposal or declare bankruptcy, what happens to my credit rating? What happens if my creditors vote against accepting my consumer proposal? Can I leave some creditors out of my consumer proposal? How Do I Get a Mortgage After A Consumer Proposal? Can a student with a government student loan go through bankruptcy or get a consumer proposal?
