FILL OUT THE FORM BELOW AND RECEIVE A NO-OBLIGATION CONSULTATION

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If you have unsecured debt of under $10,000 and live in the Province of Ontario filing bankruptcy may not be the best option for you. We suggest you contact the Office of the Superintendent of Bankruptcy at 416-973-6441 to discuss your options, or you can visit their website here.

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Consumer Proposal Spending

My husband and I are unfortunately going to have to file for a consumer proposal. There are some things that need to befixed around our house. What would happen if we paid for these things with a credit card before filing?
Thanks

Posted from: Ontario

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One Response to “Consumer Proposal Spending”

A licensed trustee said...

You already know the answer to this question – if you deliberately increase your debt load before filing (because you know you are going to file) it is considered an offence and at the very least, will likely cause your proposal to be rejected by your creditors.

How would you react if some one came and borrowed money from you today, knowing full well that next week they were going to file a proposal and offer to repay you 1/3 of what they just borrowed?