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bills

How does preferential treatment work with a proposal? can I pay my bills without it being considered preferential treatment? can I pay off small loans?

Posted from: Ontario

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One Response to “bills”

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

The rules around preferential treatment are very specific, so I wouldn’t recommend taking any chances. So I wouldn’t recommend you paying off any loans prior to filing a consumer proposal, regardless of the size. Doing so may make it very difficult to get a consumer proposal accepted. As for your normal bills, if you are talking about things like rent, car payment, utilities etc. then you definitely continue to make payments on those. And if there is any question as to whether or not to pay it, check with your trustee .