Duties of a debtor who files a Consumer Proposal
You are required to do very few things after filing a consumer proposal. The most notable duties are:
- Attending any meeting of creditors;
- Attending any examination;
- Attending two credit counselling sessions;
- Making all of your required payments.
Meeting of Creditors
A meeting of creditors in a limited number of proposals that we file. When such a meeting occurs, creditors rarely attend by telephone and even less frequently in person. The Trustee acts as chair and controls the meeting which is meant to provide a venue for creditors to ask questions about your financial affairs and/or negotiate your proposal. Practically speaking, most matters are dealt with outside of this meeting which acts as more of a formality.
Approximately 1% of the individuals that we assist are randomly selected by the Office of the Superintendent of Bankruptcy to submit to an examination under oath. You simply have to attend a meeting with a government representative who will ask you questions about your financial affairs and report any irregularities to the Trustee.