Category: Business, Law Services

Tags: consumerproposals, debtcounseling, debthelp, licensedinsolvencytrustee

Consumer proposals are designed to be over a 5-year period because that’s the restriction that the law puts. They are not allowed to go beyond five years. However, the person has the freedom and the ability to shorten the term if they want with no interest, no penalties and no restrictions. Although most proposals are designed over five years, they end up paying out right around the four-year mark.