Filing a proposal while unemployed

December 1st, 2006 by Questions

I have been unemployed since March/06 and all my credit cards had been turned over to collections. Finally, in beginning of November i filed a consumer proposal offering one time upfront cash settlement with help from my parents. I have now got a job which will start in January/07. as i have not heard anything back from my proposal what happens if they accept it – would the terms be changed as now i am employed and the new income taken into consideration.


One Response to “Filing a proposal while unemployed”

December 01, 2006 at 4:45 pm, A licensed trustee said:

A consumer proposal is filed based on your situation at the time you file the proposal. If your situation improves, or gets worse, after the proposal is filed, it does not automatically change the terms of the proposal. In fact, it is the expectation of better things ahead that is the main reason many people file a consumer proposal.

The only exception would be if you lied on your originaly proposal papers (ie. said you didn’t have a job when you did). Since that is not the case in your situation, your proposal should not be impacted, although you should discuss this with your trustee for full details, since they are familiar with your file.

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