Hey RichardC...

I'm sure you've explained it before...
What's the difference between consumer proposal and debt settlement?

That’s pretty standard for a consumer proposal; remember when you use a trustee in bankruptcy to resolve your debts you hand over your debts and your assets. You loose total control of your finances and have to listen to what the trustee tells you to do if you want to be discharged from the debts.

Every debt relief program has its positive/negative aspects to the program.

Your first step will likely be a proposal, if that is accepted then you follow that plan for its duration. If the consumer proposal is rejected by your creditors then you will likely be in a situation where it’s an automatic bankruptcy.

umm... sometimes what happens is that you would stop making payments to save up cash. Ultimately, if you're doing consumer proposal, your credit listings will show as R9 or R8... so it's going to be bad anyway.

Consumer Proposal means that you're either not paying interest or principal, which means the creditor loses money. You won't get R1 status for doing that ..

It is a consumer proposal. I have the money to just keep them paid (min payments) But that is just about run out. I can't believe that I am told to stop paying completely. I figured that this would be the worst thing to do.

is that a consumer proposal or debt settlement.?

by not paying your saying that you're illiquid.. if you're illiquid then supposedly you don't have funds to make payments.

If you have the cash to pay the debts and don't the creditor will get mad. If you honestly don't have the cash to pay, the creditor will start to treat you as a write offf.

I have been told that during a proposal not to pay my creditors and it will take up 3 months . Does this seem right? You would think by doing this that they would tend not to cooperate.