Will I have to turn over my proceeds over to my trustee
May 25th, 2009 by Questions
If you are under a consumer proposal in Ontario and have less than 2 years left in payments, in my case. I just sold my house and it closes in a few days, I should be receiving $10,000 and still owe about $8400. Will I have to turn over my proceeds over to my trustee?
Posted from: Ontario
One Response to “Will I have to turn over my proceeds over to my trustee”
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May 26, 2009 at 8:25 am, A licensed trustee said:
Unless the terms of your proposal require you to pay it out when/if you sell your home then you are not required to. That being said, you may want to (just to get rid of the payment)…