February 2nd, 2009 by Questions
What happens if I get a new job or a significant raise while I am paying off my consumer proposal. Will my payments be adjusted upwards?
Posted from: Ontario
February 03, 2009 at 9:59 am, Barton Goth - Goth & Company Inc. -Trustee in Bankruptcy said:
In a consumer proposal the payments are not tied to your income once the proposal is accepted by creditors and approved by the court. As a result if your income goes up your payment doesn’t change. However, this can be a double edged sword as any negative changes in income don’t reduce the payment.
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