Difficulty making your consumer proposal payments

If you are experiencing difficulty making the payments required in your consumer proposal you should be aware that an amendment to your consumer proposal is possible if:

  • we agree to make that amendment. We usually do agree if your circumstances have changed significantly and for good reason, and if we do not consider the amendment to be abusive to the insolvency process; and
  • an amendment must be able to be drafted by us, sent to you, signed by you, returned to us, and filed by us before there would otherwise be a deemed annulment of your consumer proposal. It is important you are aware of this timing.

When an amendment is filed it means that your creditors once again decide whether to accept your amended consumer proposal. In the situation where your amendment is rejected and a suitable proposal cannot be agreed, your entire consumer proposal process terminates.

If you wish, or need, to consider an amendment to your consumer proposal, inform us here. Amendment Questionnaire

Home

Email Ken