Raising the Consumer Proposal debt limit

I am in the process of doing a consumer proposal joint with my wife. I understand that their are chagnings coming for the Consumer Proposal. Will it be better for me to start the proposal now and hope that I can still take part under the old provisions or should I wait and do it under the new provisions of the consumer proposal?

Posted from: Ontario

One Response to “Raising the Consumer Proposal debt limit”

A licensed trustee said...

There is only one major change planned for consumer proposals – they are raising the limit from $75,000 in debts per person to $250,000. If you are ready to file now and your debts are under the current limit then there’s likely no reason to delay.