consumer proposal question

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.