What 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?
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.
Earl Sand, LIT