CRA

December 12th, 2012 by Questions

What happens if CRA was not added as a creditor in a proposal. Can they they be added in after the proposal has been accepted? Would this not affect the other creditors and they could reverse their decision since it means they will get less money now?

Posted from: Ontario

Questions

One Response to “CRA”



December 12, 2012 at 7:15 pm, A licensed trustee said:

It literally depends on the size of the CRA debt relative to all of your other debts. If it represents a minor change then it won’t create problems – if it is a large number, say 20% or more of your debt, then your proposal may have to be increased so that your creditors receive the same rate of repayment that you originally offered them.

Call your trustee to discuss this in greater detail.

Please post a follow up comment below:

(Note: comments are reviewed by moderators and then posted after approval. In addition, due to high volume some of the comments might not be posted.)