Savings Accounts

My Consumer Proposal will be filed with the next two weeks. I would like to start 2 savings accounts. One for expenses that will only come up every 2nd month or more, and the other for long term savings. Is there a limit to the amount that I can have in these accounts? At some point will a creditor or trustee want that saved money to be used for the Proposal? Is there a limit that I`ll be allowed to save? If my income increases over the next year, I`d like to save the money for the future.

One Response to “Savings Accounts”

Barton Goth GCO Bankruptcy Trustees said...

As long as you are making your monthly payment on the proposal there is no restriction on the number of savings accounts you have or the amount you carry in that savings account.