Consumer Proposal – Length

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:

  1. You can repay your proposal as quickly as you like.
  2. 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.

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