Consumer Proposal/Proceeds from sale of house
March 8th, 2009 by Questions
My husband and I are planning on filing a joint consumer proposal. Our house is also presently on sale. Our proposal would be to pay 50% of our debts or close to 50,000$. If we manage to sell our house, could the proceeds of the sale be used to pay off the proposal early?
Posted from: Quebec
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March 09, 2009 at 8:23 am, A licensed trustee said:
That’s a great idea and it is done quite regularly. In fact, you can write that as a term in your proposal and that will likely reduce your monthly payments until the hosue sells…