How To File a Proposal – step by step

January 4, 2023

How to File a Proposal – Steps:

  1. Contact the office to make an appointment for an initial consultation – call 519-646-2222 or email
  • Complete a detailed application, this is usually done during the initial consultation.
  • Arrange a time to sign the official documents.

That’s it, that easy!

After we file a proposal, your creditors will have forty-five (45) to vote on accepting the proposal.

On day 45 we will review the votes to see if the proposal as been approved.

The proposal will pass if 50% (half) of the voting creditors, voting by dollar value, agree to the terms.

If 50% agree to the terms and 50% vote against the proposal, the proposal still passes and is binding on the dissenting creditors.

What else do you need to do?

Maintain payments in accordance with the terms of the proposal.

You will be required to attend at two counselling sessions that can conducted in-person, via Zoom, or by telephone.  The counselling sessions are designed to help you with budgeting and money management as well as developing a better understanding of credit use and handling.

If you need help to file a proposal, reme,ber that help is always just a phone call away.