Who can make a Consumer Proposal?
To qualify to make a Consumer Proposal a debtor must owe between $1,000 and $75,000 (excluding the mortgages on a personal residence). If the debts exceed $75,000, there are other provisions of the Act to deal with these debts.
An individual who has filed an assignment in bankruptcy may make a Consumer Proposal, if the Inspectors, if any, have given their approval.
A joint Consumer Proposal may be filed by two or more individuals, if the Consumer Proposals can be reasonably dealt with together because of the financial relationship of the consumer debtors involved (e.g. married couple, common-law partners).
