Examples of 'consumer proposals' in a sentence
Meaning of "consumer proposals"
Consumer proposals are a legal debt relief option available in Canada. It is a formal process that allows individuals to make an offer to their creditors to settle their debts based on what they can reasonably afford to repay. Consumer proposals are typically facilitated by licensed insolvency trustees and can provide individuals with an alternative to bankruptcy while still addressing their financial difficulties
How to use "consumer proposals" in a sentence
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consumer proposals
No previous bankruptcies or consumer proposals is a must.
Consumer proposals should always be considered before deciding to go bankrupt.
The avoidance should apply to consumer proposals as well as to bankruptcies.
A consumer proposals scheme gave consumer debtors an alternative to bankruptcy.
Two of these processes are consumer proposals and bankruptcy proceedings.
Counselling was also required for debtors making consumer proposals.
Bankruptcies and consumer proposals both provide a form of debt forgiveness.
Fees payable to trustees for summary proceedings and consumer proposals.
The recommended changes would apply to consumer proposals as well as to bankruptcy itself.
Joint consumer proposals are permitted where the financial affairs of the debtors are intertwined.
This chapter presents procedural recommendations concerning bankruptcy and the next deals with consumer proposals.
Consumer proposals and bankruptcies deal with the same kinds of unsecured debts.
Only LITs are able to file consumer proposals and bankruptcies in Canada.
Consumer proposals are a tool that has proven very effective in dealing with excessive debt.
A trustee or a person appointed or designated by the Superintendent of Bankruptcy to administer consumer proposals.
See also
Consumer proposals are the only government approved debt settlement program in Canada.
These exceptions apply to both bankruptcies and consumer proposals under the BIA.
The analogue to consumer proposals is found in Administration Orders.
This is the federal law which regulates business and consumer proposals and bankruptcies in Canada.
To learn more about consumer proposals visit the Office of the Superintendent of Bankruptcy website.
A trustee is the only person who can administer consumer proposals and bankruptcy in Canada.
Consumer proposals are legally binding procedures, regulated by the federal government.
What you should know about Consumer Proposals.
Consumer proposals have also come a long way from the creditors ' point of view.
Bankruptcy wants your wealth ; consumer proposals want your health.
Two, in recent years, Canada and Quebec have experienced a sharp increase in consumer proposals.
For the first time in Canada 's history, consumer proposals outweigh personal bankruptcies.
In Canada, only a licensed bankruptcy trustee is legally allowed to deal with Consumer Proposals.
The average annual rate of growth of consumer proposals filed with the OSB has been 18.3 %.
In practice, however, inspectors are rarely appointed in consumer proposals.
We know that Division II consumer proposals did not exist before 1993.
O We supervise the administration of estates in bankruptcy, commercial reorganizations, consumer proposals and receiverships ;.
Others There are approximately 43 provincial administrators of consumer proposals whom the Superintendent has designated.
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