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Paying off debt pre Consumer Proposal

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

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One Response to “Paying off debt pre Consumer Proposal”

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.