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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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Bankruptcy

Can I transfer my consumer proposal into bankruptcy

Posted from: Ontario

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One Response to “Bankruptcy”

A licensed trustee said...

You have the right to file bankruptcy at any time, including when you are in a proposal, BUT you need to understand that any money you have paid into your proposal will NOT be transferred over – the bankruptcy process will run its normal course and you will be required to make the normal payments.

You should speal to your trustee (or another trustee if you no longer want to work with the people handling yor proposal) to find out exactly how all of this works.