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My proposal was reinstated and I missed the first payment

My proposal was reinstated and I missed the first payment after it was reinstated. What would happen to me. Will the proposal be annulled?

Posted from: Ontario

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One Response to “My proposal was reinstated and I missed the first payment”

Doug Stuive, CA | Trustee | CIRP said...

If your consumer proposal was revived and was brought completely up to date, missing the first payment should not lead to the annulment of your consumer proposal provided it is made up in a timely manner. If your consumer proposal payments are not manageable for you and you will continue to have difficulty making your payments on time you should consider other options . You may need to look at amending your consumer proposal so your payment is more comfortable.