How Long Does A Consumer Proposal Last?
Consumer proposals can vary in length, but can’t exceed 5 years or 60 months. We rarely propose less than 60 monthly payments for two reasons:
- You can repay your proposal as quickly as you like.
- The longer the repayment period, the lower the monthly payment.
Lump Sum Proposals
If family or friends are willing to assist, you may be able to make a single lump sum consumer proposal to your creditors and shorten the length of your proposal to as few as 3 months.
Effect on Credit
A Consumer Proposal remains on your credit history for 3 years after you make your last payment. Read more here.
