Sale of my home while discahrging a Consumer Proposal
July 12th, 2012 by Questions
I am 3 years into my 5 year consumer proposal and am still experiencing financial difficulties which is requiring me to sell my home. I don’t mind paing my consumer proposal for another two years. But, will I be forced to pay back the portion of my debt that was NOT paid to my creditors with the proceeds of my house sale?
Posted from: Ontario
One Response to “Sale of my home while discahrging a Consumer Proposal”
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July 12, 2012 at 7:44 am, A licensed trustee said:
You should call your trustee – unless you put terms in your proposal restricting the sale of the house or requiring you to paydown the debt if you sell, there shouldn’t be any issues with selling your home and using the net proceeds as you see fit.
The first step is to call your trustee to discuss your plans.