If not objected to by the creditors,a consumer proposal could enable someone with $50 000 in consumer debt to pay off $30 000 of it and have it removed from their credit bureau report.

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A consumer proposal allows a person to negotiate with their creditors to pay back a portion of their debt, typically less than the full amount, in exchange for having the remaining debt forgiven. If the proposal is accepted by the creditors, the person can pay off the reduced amount and have it removed from their credit report after a certain period of time. However, if the proposal is not accepted, the person may need to file for bankruptcy or find another solution to manage their debt.

If Not Objected to by the Creditors,a Consumer Proposal Could