A Consumer Proposal represents an offer of repayment being made to one’s creditors, the form and length of which can vary. Fixed payment proposals with a consistent monthly payment, for a specified term of months, with a defined total to be paid, represent the vast majority of the Consumer Proposals we file. There are instances, however, where a person’s cash flow is a little more irregular, or they have assets that they need to sell or other issues that need to be considered.

We have assembled a list providing examples of and descriptions for the six most common types of Consumer Proposals we see. Please explore the drop down menu under the Menu Heading EXAMPLES, and see what scenario best fits your situation.

Some of the points you may need to look at might include:

• Is your income seasonal?
• Will your income change because you’re going back to work, you’re about to go on maternity leave or some other factor, such as you are going to retire in the next few years?

The most important point to consider is that any offer you make should match your anticipated income stream as closely as possible.

Picking a Consumer Proposal payment time-frame that doesn’t match your budget, can adversely affect the likelihood of you successfully completing your Consumer Proposal.