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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Withdrawing A Proposal and filing for Bankruptcy

I just signed a consumer proposal about a week ago (i.e just got a file numer and creditors are being notified) but now it appears my wife`s work is being cut back drastically(she has worked one day in the past two weeks) .I now feel that I may not be able to fulfill the terms of the proposal especially if I am the sole full time income earner.Can I withdraw my proposal and file for bankruptcy instead?

Posted from: British Columbia

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One Response to “Withdrawing A Proposal and filing for Bankruptcy”

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

There is no need to withdraw the consumer proposal, although it is possible, but by simply filing a bankruptcy you will find that the proposal is automatically annulled.

The best thing to do is to simply contact your trustee to discuss the best way to proceed.