Negotiating terms of a consumer proposal

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Negotiating terms of a consumer proposalWhat am I supposed to do when a consumer proposal is not acceptable to me because the amount is too high. My trustee said I can file bankruptcy but it’s not acceptable either.  What’s the meaning of acceptable? Is there any law for bankruptcy?

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You only have three options regarding the consumer proposal:

1) Offer the creditors the amount they will approve;
2) Reject the consumer proposal offer the creditors made and file bankruptcy;
3) Reject the consumer proposal offer the creditors made and do nothing.

Yours truly,

Earl Sand, LIT

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