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Consumer Proposal?

Does filing for a consumer proposal affect any life insurance one has? I have read that you need to list all un-secured debt, and negotiate settlements for payment that way….. but can you still maintain your life insurance payments and keep your life insurance going?

Posted from: Ontario

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One Response to “Consumer Proposal?”

Barton Goth – Goth & Company Inc. -Trustee in Bankruptcy said...

Usually the filing of a consumer proposal doesn’t have any direct impact on life insurance. Now the type of policy may impact the way that the consumer proposal is crafted, but this is something that will be addressed when you are meeting with a local trustee and together you are determining what type of offer must be made to your creditors.