by Mary Plahouras, CFE, L.L.M
November 26, 2018
What is a Consumer Proposal?
The Bankruptcy and Insolvency Act (the “BIA”), defines a Consumer Proposal as:
- A plan to settle your debts with your unsecured creditors on a percentage of the total amount owing to your unsecured creditors; or,
- A plan for an extension of time for payment; or,
- Both