The consumer proposal is a solution that allows you to repay part of your debts while freeing you from all amounts due. With the help of a Lemieux Nolet trustee, you could make an offer to your creditors and settle all your debts.
Will it be approved or refused?
If the offer is accepted, it becomes a repayment agreement with your creditors. It will take place over a maximum period of 5 years.
If it is refused, you will have to repay your debts on the conditions established with each creditor before the proposal, or choose another solution to your over-indebtedness
To make a consumer proposal, the total amount of your debts must not exceed $250,000 excluding your mortgage balance. To find out all the conditions and details of the bankruptcy and insolvency law that applies to your situation, we invite you to contact a Lemieux Nolet trustee. Also consult our evaluation process which allows you to understand the 3 steps to get off on the right foot.