HMMM, this is a tough one, I believe when you file a cp the trustee looks at your ability to pay and reports that to your creditors, so you just lost your job will not look good and you may likely will not be able to file a cp based on this, but this may not be 100 percent correct.

I would use some of the severence to get caught up on payments if possible and give you some time to find employment and hopefully you can avoid filing a cp all together.

But I don't know what your situation is either.

Hi Nanajack,

I wrote this reply in your other thread on the 17th:
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Hi,

Yes, I believe your severance pay will be considered an asset. This changes your financial profile considerably, and not in a bad way ultimately. You must see your trustee ASAP to remodel your plan. He or she may still recommend a consumer proposal, but perhaps it will be in the form of a one-time lump sum now, rather than a program of monthly payments. This would certainly be to your advantage.

See your trustee right away and keep us posted!

Best wishes,
~Wendy