Pay off a Consumer Proposal early?

January 24th, 2006 by Questions

Is it possible to pay off a consumer proposal early. My spouse and I filed a joint proposal and there are several months left on it. I am considering filing bankruptcy but do not want to include my spouse. Is it possible to pay off the consumer proposal ahead of time and then file for a single bankruptcy myself? I am currently unemployed but if we filed a joint bankruptcy our surplus payments would be high due to my husbands income. The debt that remains after the proposal is solely in my name (student loan over 10 years old and vehicle)? Input please.


One Response to “Pay off a Consumer Proposal early?”

, A licensed trustee said:

Yes, you can pay off a consumer proposal early. The administrator of your proposal can give you more details, and advise on whether or not a bankruptcy makes sense in your case, based on the facts of your situation.

Please post a follow up comment below:

(Note: comments are reviewed by moderators and then posted after approval. In addition, due to high volume some of the comments might not be posted.)