consumer proposal question

June 30th, 2009 by Questions

If you are behind on a mortgage payment could you loss your house in a consumer proposal? Also is cra included in a proposal?

Posted from: Ontario


One Response to “consumer proposal question”

, A licensed trustee said:

If you are behind on your mortgage payments the lender might be concerned if you also filed a consumer proposal. We advise our clients to speak to their mortgage company BEFORE they file. The mortgage company will want a plan in place to bring the mortgage current – the proposal might very well be part of that plan.

As to your second question, yes, CRA debts (income tax debts) are included when you file a consumer proposal or bankruptcy.

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