Paying off debt pre Consumer Proposal

November 29th, 2012 by Questions

My spouse and I are looking at a Consumer Proposal in January. We owe $55 000 in credit card debt. Last July I cashed in a $12 000 pension to pay off some debt. Some of it went to credit cards and some to pay back a family member. Will this effect my Proposal? Do I need to let my Trustee know about this?

Posted from: British Columbia

Questions

One Response to “Paying off debt pre Consumer Proposal”



November 29, 2012 at 9:32 am, A licensed trustee said:

You should definitely tell your trustee about this BEFORE you file – once they have more details they will be able to tell you whether or not the repayment will have an impact on your proposal.

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