Right of Offset
December 2nd, 2011 by Questions
Once I file for a consumer proposal, will any of my creditors whom I bank with have the right of offset if I am still current on all my obligations? Or will seizure of funds only be for those with already past due credit products?
I am already considering opening an account at a financial institution I don’t owe money to (or have any credit product with).
Posted from: Ontario
One Response to “Right of Offset”
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December 02, 2011 at 7:21 am, A licensed trustee said:
We advise all of our clients to change banks just before they file either a proposal or bankruptcy. I know it is a pain, but by doing so you make certain no one has access to your bank account. (of course you need to switch to a bank that you are not currently dealing with…).