Consumer Proposal definition
Consumer Proposal means a consumer proposal under Division 6 of Part IV;
Consumer Proposal means an offer made by a debtor under the Bankruptcy and Insolvency Act to modify their payment to a creditor. Such a proposal must be completed within five years.
Consumer Proposal means a formal proposal filed and approved under the provisions of the Bankruptcy and Insolvency Act
More Definitions of Consumer Proposal
Consumer Proposal means a proposal made under this Division.
Consumer Proposal means a formal, legally binding process that is administered by a Licensed Insolvency Trustee (“LIT”), where the LIT works with the debtor to develop an offer to pay creditors a percentage of what is owed to them or extend the time the debtor has to pay off the debts or both;