February 7th, 2011 by Questions
Can unpaid property taxes be included in a consumer proposal or are these considered secured debt?
Posted from: Ontario
February 08, 2011 at 1:25 pm, A licensed trustee said:
They are secured and therefore do not form part of a consumer proposal. When you are spekaing to a trustee about a consumer proposal, they will likley suggest your plan/budget include a monthly amount to deal with your property tax arrears over no more than 30 months. If you budget won’t suport that kind of payment then you need to consider whether or not you can keep the house. Once you fall three years into arrears with your property taxes the city has the right to seize and sell you home…
Log in to Reply
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.)
You must be logged in to post a comment.