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Do I need to hire a Trustee to file for Consumer Proposal?

Do I need to hire a Trustee to file for a Consumer Proposal? Can I file for consumer proposal by myself without having a trustee in the middle? Please advise

Posted from: Alberta

One Response to “Do I need to hire a Trustee to file for Consumer Proposal?”

A licensed trustee said...

You cannot file a consumer proposal by yourself – you must use a licenced trustee in bankruptcy to do so.

One of the underlying premises of the Bankruptcy and Insolvency Act is that you assign (sign over) your assets to a trustee to administer on behalf of your unsecured creditors. Since you can’t sign something over to yourself the law requires you to use a trustee.