Why Would A Consumer Proposal Be Rejected?
“Why would a consumer proposal be rejected?” The usual reason is that your creditors want more money and if you refuse to acquiesce to their counteroffer, the proposal will be rejected, as previously described.
Consumer Proposal Rejected Due to Debtor Conduct
However, another reason why a consumer proposal might be rejected by your creditors is that they found evidence of questionable conduct with respect to your financial affairs. Here are some examples:
- You brought on, or contributed to your financial situation by rash and hazardous speculations, unjustifiable extravagance in living, gambling or by culpable neglect of your business affairs.
- You put any of your creditors to unnecessary expense by a frivolous or vexatious defence to any legal action properly brought by them against you.
- You have, within the a three month period preceding the date you filed your consumer proposal, incurred unjustifiable expense by bringing a frivolous or vexatious legal action.
- You have, within the a three month period preceding the date you filed your consumer proposal, when unable to pay debts as they became due, given an undue preference to any of your creditors.
- You’ve been guilty of any fraud or fraudulent breach of trust.
- You’ve committed any offence under the Bankruptcy and Insolvency Act or any other statute in connection with your property or your consumer proposal proceedings.
If you want to work with a Trustee who will give you confidence and peace of mind that your consumer proposal is being dealt with in a professional manner, look no further.
Reviews of Our Services
Victor was quick to contact me and the consistent contact was amazing. Victor is really passionate about listening to my needs and it showed as his service with me was nothing short of an amazing experience. He went out of his way to meet on my sched and his attention to detail is exceptional. If yo
Victor and his team (Mary) were always extraordinarily prompt with their responses to any inquiries and went out of their way to respond to questions in detail. They were extremely helpful at all times, even after my Proposal was completed. VIctor is an excellent advocate for his client's needs and
Victor and his team were amazing. Treated us with the upmost professionalism. Answered all our questions, took care of everything and turned an unfortunate situation and made it much less stressful. I highly recommend Fong and Partners. Thank you all for your support through the process.
Working with Victor Fong was great. We just finished our consumer proposal a week ago and the entire process was quite easy. Mary was amazing at answering all my questions and accommodating me when I had any questions or concerns. Her response time was impeccable. Our initial meeting with Victor wa
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