
If your situation has changed and you can't make your consumer proposal payments, you do have options.

If your situation has changed and you can't make your consumer proposal payments, you do have options.

There are a number of major differences between a consumer proposal and a division 1 proposal.
When you file a consumer proposal you are asking your creditors to compromise or settle the amount of debt you owe. Since you are attempting to compromise your debt you need your creditors to accept or agree with the terms of your consumer proposal.
It may be a better idea to consider filing a consumer proposal if you have previously filed personal bankruptcy. Find out why.
If you are a high income earner and therefore would have surplus income if you filed personal bankruptcy, it is probably a better idea to consider making a consumer proposal. Find out why.