Why would the banks agree (vote yes) to a Consumer Proposal?

The banks are willing to accept the payment plan proposed through a Consumer Proposal as it allows them 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 customers 4 Pillars help are honourable debtors and have been struggling to repay the debt for a long period of time. By the time the Consumer Proposal is filed, the banks and credit card companies have usually already recovered the amount borrowed and a large amount of interest.

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