January 20th, 2011 by Questions
I DID A CONSUMER PROPOSAL IN 1995AFTER MY SEPARATION CAN I FILE ONE AGAIN 16 YEARS LATER
Posted from: Ontario
January 21, 2011 at 7:55 am, A licensed trustee said:
Sure you can – there is no limit to the n umber of times you may offer your creditors a proposal. What you can’t do is offering a second proposal on the same debts of a filed proposal. In your case that is not a problem…
A word of warning to everyone reading the site – there is no limit to the number of times you may file a proposal, BUT each one counts as an insolency event. If after you file a couple of proposal you need to file for bankruptcy, the Court will treat you like you are filing bankruptcy for the third time – that means the bankruptcy will run longer and cost more. So, if you find yourself filing a second or third proposal make sure you can complete it – if you end up filing bankruptcy later things won’t go well for you.
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