FILL OUT THE FORM BELOW AND RECEIVE A NO-OBLIGATION CONSULTATION

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If you have unsecured debt of under $10,000 and live in the Province of Ontario filing bankruptcy may not be the best option for you. We suggest you contact the Office of the Superintendent of Bankruptcy at 416-973-6441 to discuss your options, or you can visit their website here.

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Will I have to turn over my proceeds over to my trustee

If you are under a consumer proposal in Ontario and have less than 2 years left in payments, in my case. I just sold my house and it closes in a few days, I should be receiving $10,000 and still owe about $8400. Will I have to turn over my proceeds over to my trustee?

Posted from: Ontario

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One Response to “Will I have to turn over my proceeds over to my trustee”

A licensed trustee said...

Unless the terms of your proposal require you to pay it out when/if you sell your home then you are not required to. That being said, you may want to (just to get rid of the payment)…