new law

June 24th, 2008 by Questions

concerning the upcoming new bankruptcy law, I was wondering if you think there is a chance the govt will change the length of time credit is affected on a proposal compared to a bankruptcy. I have seen online where trustees have attended hearings and explained why this should be changed to encourage proposals over a bankruptcy.

Posted from: Ontario


One Response to “new law”

, A licensed trustee said:

We hope that in the future the changes you are suggesting get made, but frankly we don’t expect them anytime soon. What is really needed is for the creditor community to decide that proposals are a “better thing” and therefore treat persons that have completed proposals more favourably than those that filed for bankruptcy. Right now they are treated pretty much the same…

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