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
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
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.