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Steps for filing
The Steps to negotiating new terms with a consumer proposal
- Step 1: Contact Deloitte
- Step 2: Meet with your local Deloitte bankruptcy trustee or financial counsellor
- Step 3: Trustee (called an Administrator in this role) provides financial information to the creditors and files a debt management repayment proposal that works for you
- Step 4: Creditors vote to accept, amend or reject the Consumer Proposal
If 50 percent of your creditors (voting by dollar value) accept the proposal, then it is approved.
Need more info? A Deloitte bankruptcy trustee can advise you of your best option.