Will a consumer proposal affect my employment?

February 25th, 2009 by Questions

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


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.

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