Borrowing while under Consumer Proposal

October 29th, 2009 by Questions

Once your consumer proposal has been accepted and you are in repayment mode, can you go out and borrow money?

Posted from: Ontario


One Response to “Borrowing while under Consumer Proposal”

October 30, 2009 at 8:47 am, A licensed trustee said:

There’s no law or rule stopping you from trying to borrow after you have filed a consumer proposal – the difficulty will be finding a reputable company to actually lend you any money. Most require you to have been out of the proposal for at least 2 years before they will consider you for a loan.

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