Consumer Proposal: How Long do they Last? In this video, Howard Hayes explains a common misconception about consumer proposals: that they are very long and more tedious than bankruptcies. It is commonly known that consumer proposals last five years, but it is important to remember that this is just a maximum figure. Howard Hayes, a licensed insolvency trustee with Hoyes Michalos, explains that if you are able to pay off your debt faster than five years, then you can. Any pay raises, tax returns or any other means with which you could pay faster do not affect the amount of the consumer proposal itself: creditors cannot change this amount. You can, however, pay down your consumer proposal sooner than five years. Watch, as Howard Hayes explains this advantage of consumer proposals. You can learn more about the advantages of consumer proposals here:

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