self employed consumer proposal
January 13th, 2011 by Questions
I\’m self employed and considering a Consumer proposal to deal with my debt (approx $90,000). My understanding is that a time line will be established to pay the agreed percentage back to creditors. Can I continue to be self employed (vs. an employee of a company) and if my business situation improves can I pay the proposal balance off early and subsequently shorten the time that it stays on my credit rating? Does the agreed consumer proposal value stay the same or would improved earnings be garnished by the trustee to pay back creditors and still require paying out the full term?
Posted from: Ontario
Please post a follow up comment below:
(Note: comments are reviewed by moderators and then posted after approval. In addition, due to high volume some of the comments might not be posted.)