What Happens If You Default On A Consumer Proposal?

Since the proposal is a legally binding agreement, this would be a serious situation. If you fail to meet the terms of your proposal, especially by missing three months of payments, the consumer proposal is annulled automatically.

 

This is why we at Richard Killen & Associates believe it is critical that we sit down with you at the beginning of the process and work out reasonable terms for a consumer proposal.

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