WHY WOULD THE BANKS AGREE TO A CONSUMER PROPOSAL? Banks are - TopicsExpress

WHY WOULD THE BANKS AGREE TO A CONSUMER PROPOSAL? Banks are willing to accept the payment plan proposed through a consumer proposal as it allows them to realize a larger return than if a consumer were to file for a Bankruptcy. It also allows the customer to show restitution to the creditors and pay back what is affordable. The clients 4 Pillars help are honorable debtors and have been struggling to repay the debt for a long period of time. Usually, the banks and/or credit card companies have already recovered the amount borrowed and a large amount of interest.

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