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what exactly does happen if you make a consumer proposal after already being bankrupt

So a second bankruptcy really makes thing terrible. And a consumer proposal would avoid *some* of those negative consequences. Which consequences would be avoided? I suppose what I want to know is, what exactly does happen if you make a consumer proposal after already being bankrupt?

Posted from: British Columbia

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One Response to “what exactly does happen if you make a consumer proposal after already being bankrupt”

Barton Goth – Goth & Company Inc. -Trustee in Bankruptcy said...

This depends if you have already been discharged from the bankruptcy or not. If you have been discharged then the consumer proposal process isn’t impacted.

However, if you have not been discharged then the filing of the bankruptcy serves to annul the bankruptcy and deals with the debts that existed in the bankruptcy but not any debts that have been incurred since that time.

For more information you are best to local trustee.