change consumer proposal (amendment to consumer proposal)
August 14th, 2008 by Questions
Now I am at 9th month of a 3-year , $700/month payment consumer proposal.
Since my personal situations change a lot, and I expect more difficult in completing this proposal, at the mean time, I still do not want to go to bankruptcy.
So may I apply to make an amendment of this consumer proposal? Such as, change the term of 3-year down to 2-year or less, and change the monthly payment from $700 down to $500 or less?
If I fail in making amendments to this consumer proposal, may I still go back to the original proposal? or will I go back to the life before this original consumer proposal (creditors call me again, loans start count interests again, etc), or will creditors/and trustee force me to go bankruptcy?
I once talked to my trustee about the idea of the amendment to consumer proposal. But I was informed that I cannot make amendment to consumer propsal, but I can only file bankruptcy if I want to change the original consumer proposal. So May I change to other trustees who will help me to make amendment to consumer proposal? Is it possible?
Posted from: Ontario
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.)