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spousal differences

A week after filing for Consumer Proposal my spouse told me we are going for a divorce. I want to annul the proposal. What happens in this case. Whats the best step to take.

Posted from: Ontario

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One Response to “spousal differences”

A licensed trustee said...

Contact your trustee and ask for your proposal to be “withdrawn”. As long as you are within the first 60 days from the date you filed you are entitled to do this – it will be as if you never filed, BUT if you try to file a new/another proposal there are some consequences that your trustee can discuss with you…

If it has been more than 60 days since you filed then you may have the proposal annulled by Court Order, or by simply falling three payments in arrears. Unfortunately an annulled proposal will show on your credit report and have an impact on your financec going forward.