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

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*Unsecured debt includes credit cards, lines of credit, bank overdrafts, payday loans, and unsecured personal loans (excluding student loans). It does not include mortgages and car loans.

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How can we help you?

If you have unsecured debt of under $10,000 and live in the Province of Ontario filing bankruptcy may not be the best option for you. We suggest you contact the Office of the Super Intendent of Bankruptcy at 416-973-6441 to discuss your options, or you can visit their website here.

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Will a consumer proposal affect my employment?

I am a personal banker looking to file consumer proposal along with my husband. One of my husband`s debt is with the same bank who employs me. I am not a party in that loan. Would the whole process of our Consumer Proposal affect my job? Would it also affect my licence from Ontario Securities Commission?

Posted from: Ontario

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One Response to “Will a consumer proposal affect my employment?”

Barton Goth – Goth & Company Inc. -Trustee in Bankruptcy said...

I don’t anticipate this will cause you any problems. The Bankruptcy and Insolvency Act stipulates that employers are not permitted to dismiss, suspend, lay off or otherwise discipline a consumer debtor solely on the grounds that he has filed a consumer proposal. Now the Securities commission may have something in their bylaws that comments on the filing of a consumer proposal, but it is doubtful. Most times a licensing or body or professional association has a stipulation it relates to a bankruptcy, not a consumer proposal.