unexpected income after Proposal
January 20th, 2011 by Questions
What happens if I receive an inheritance, or tax refund (or other income) after a consumer proposal? Am I required to use it against the debts? Against the consumer proposal?
Posted from: British Columbia
One Response to “unexpected income after Proposal”
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January 21, 2011 at 7:50 am, A licensed trustee said:
No you are not. Your trustee should have explained all of this to you when you filed. The only thing your are required to do in a proposal is meet the terms of the proposal. If you agreed to a certain amount of money paid monthly then you are only required to meet those terms.
That being said, if you have recieved a large sum you may want to consider paying down your proposal faster. Once your proposal has been repaid you can start rebuilding your credit. So paying down the proposal may make sense…