How to Stop CRA Garnishment After Receiving an RTP Demand Payment Letter

Ever felt the stress of unexpected financial setbacks? How to stop CRA garnishment is a question many Canadians face when dealing with debt issues and a RTP (Requirement To Pay) from the Government of Canada. Understanding the steps to halt this process can alleviate a significant amount of stress and help you regain control over […]

How Many Times Can You Do A Consumer Proposal

Ever felt like you’re stuck in a financial maze with no exit in sight? Debt can weigh you down, making every day feel like an uphill battle. But what if there’s a way to reset and start fresh? How many times can you do a consumer proposal? The straightforward answer is that you can file […]

Who Can Put a Lien on Your House in Canada?

Liens can significantly impact property ownership in Canada, often catching homeowners off guard. Understanding liens—what they are, the types that exist, and who can place them on your property—is crucial for any homeowner. This article unpacks the complexities of liens, explores potential lien holders, and discusses the consequences they can have on property sales. It […]

FILL OUT THE FORM BELOW AND RECEIVE A NO-OBLIGATION CONSULTATION

"*" indicates required fields

Name*

Phone Number*

Email*

This field is hidden when viewing the form

What's the best time to contact you?*

Location*

What city do you live in?*

This field is hidden when viewing the form

Source

How can we help you?

Agreement*

I understand that Bankruptcy-Canada.ca does not provide debt relief services directly and agree to securely share this information with a local Licensed Insolvency Trustee (LIT) for a free, confidential consultation.

Phone

This field is for validation purposes and should be left unchanged.

Select Trustee By Province

what happens if one person passes away and you have filed a joint consumer proposal

what happens if one person passes away and you have filed a joint consumer proposal. and also if in four years you inherit money or win a lottery for instance can you repay proposal debt or do you have to repay all creitors.

Posted from: Ontario

Share this post:

X (Twitter) Facebook LinkedIn Email

One Response to “what happens if one person passes away and you have filed a joint consumer proposal”

A licensed trustee said...

When you file a joint consumer proposal both parties are responsible to see that the payments are made. If one person passes away then the other person will be required to continue to make the proposal payments if they want the proposal to continue.

In regards to your scond question, proposals may be paid out at any time – if you inherited money (or won the lottery) you could choose to pay the balance on the proposal, or you could simply continue to make your monthly payments. You could also choose to pay off the debts in full and apply to the Court to have the proposal annulled (canceled).