Consumer Proposal – Duties

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:

  1. Attending any meeting of creditors;
  2. Attending any examination;
  3. Attending two credit counselling sessions;
  4. 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.

Examinations

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.

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