How does filing for a consumer proposal affect a co-signer?

Filing for a consumer proposal can significantly impact a co-signer because they remain responsible for the debt if the primary borrower defaults. While the consumer proposal protects the borrower from creditors, it does not absolve the co-signer of their obligation to repay the debt. This means that the co-signer might still face collection actions or a negative impact on their credit score. It’s crucial for co-signers to understand their potential liabilities and communicate with the primary borrower about the situation.