Unsecured Creditor

December 22nd, 2011 by Questions

I have included a medical loan in my consumer proposal who is UNSECURED.

Within my contract with this company, it states that they cannot be involved in any proposal or bankruptcy but I was informed that the Bankruptcy legislation takes precedence over it.

Is that true?

Can they legally pursue me for all $ owing?

Posted from: Saskatchewan

Questions

One Response to “Unsecured Creditor”


, Barton Goth - Goth & Company Inc. -Trustee in Bankruptcy said:

The information you have been given is correct. You cannot contract out of bankruptcy or consumer proposal proceedings. So the presence of this term in the contract is essentially meaningless. The advice you have been given is correct.

Please post a follow up comment below:

(Note: comments are reviewed by moderators and then posted after approval. In addition, due to high volume some of the comments might not be posted.)