November 15th, 2011 by Questions
we are going ahead and filing in the next 30 to 40 days for CP.
can we just stop paying creditors now?
Posted from: Ontario
November 15, 2011 at 6:38 am, A licensed trustee said:
You can if you are certain you are going to file. The problem with not making any more payments is that, if you change your mind about filing, you’ll be 2 or 3 months in arrears with your accounts and likley won’t be able to catch up.
Having said that, if you are sure you are going to file then it doesn’t make a lot of sense to keep making payments. Use the money to fill the cupboards, or fix the car, or go to the dentists – things you likely haven’t been able to do becuase you’ve been using all of your money to make payments towards your debts…
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