Consumer Proposal Payments
We did a brief survey of how much you can expect to pay on a consumer proposal – here are the results.
Our survey was a random survey of thirty consumer proposals, filed in the London, Ontario area, which may be statistically significant.
The results showed that on average proposal clients paid 26% of the face value of their debts. “Face value” is an important distinction because interest stops accruing once a proposal is filed and of the course the full value, including interest, would be substantially more.
Of the thirty surveyed clients 37% repaid less than 26% of the face value of their debts while 13% paid more than 50%. The remaining half of the proponents in our sample repaid between 26-50%.
Interestingly 13% of proponents repaid less than 15% of the face value, the same percentage as the group that paid more than 50%.