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.
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