Consumer Proposal- Will I be punished for making larger payments?

April 27th, 2012 by Questions

Hello. I am wondering if my financial situation changes and I am involved in a Consumer Proposal, if it is accepted to pay more than the required amount montly. For example, I may only be required to pay 150 monthly, but I get a new job or a raise and can afford to make payments of 250 monthly. Is this ok or does it jeopardize the proposal?

Posted from: Ontario


One Response to “Consumer Proposal- Will I be punished for making larger payments?”

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

With a consumer proposal there is no problem with paying off the proposal at an accelerated pace. It doesn’t jeopardize anything, it simply benefits you as you will be able to pay things off at a quicker pace.

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