Your Trustee is required to oppose your discharge if you do not complete specific duties or tasks: complete both mandatory counselling sessions, report you monthly income to the Trustee, sessions, make all agreed upon payments, including voluntary, surplus income, and equity payments. These are only some of the duties that you must complete.
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How Will A Consumer Proposal or Bankruptcy Affect My Credit Rating?
The proposal stays on your credit file for 3 years from the date of completion. A first bankruptcy will stay on your credit report for a period of 6-7 years (depending on which Province you live in) from the date of discharge. A second bankruptcy will be reflected on the debtor’s credit report for a period of 14 years from the date of discharge.