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Filing Twice

Can you file a second CP before your first term is paid off?. Which would be better: Let it go into void and file new?, do a amemdment too current CP?, or just go bankrupt?

Posted from: Nova Scotia

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One Response to “Filing Twice”

Barton Goth – Goth & Company Inc. -Trustee in Bankruptcy said...

You can’t have two concurrent proposals, you either have to finish the first and then file a second, or let it go into default and then file a new proposal covering both sets of debt. The only challenge with filing a second proposal is that you must first get court permission to file a second proposal. This is fairly straightforward, but you should discuss it with your trustee. Now the other approach would to simply file bankruptcy. This may be preferable, but it is difficult to tell without being more familiar with your situation. Again, you are best to discuss this with your trustee.