Consumer Proposal

December 12th, 2011 by Questions

Do I need to hire a Trustee to file for Consumer Proposal? Can I file for consumer proposal by myself without having a trustee in the middle.? Please advise

Posted from: Alberta

Questions

One Response to “Consumer Proposal”



December 12, 2011 at 7:25 am, A licensed trustee said:

You cannot file a consumer proposal by yourself – you must use a licenced trustee in bankruptcy to do so.

One of the underlying premises of the Bankruptcy and Insolvency Act is that you assign (sign over) your assets to a trustee to administer on behalf of your unsecured creditors. Since you can’t sign something over to yourself the law requires you to use a trustee.

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