December 3rd, 2012 by Questions

I work for a major financial institution and have a Master Card issued by my bank with a balance of about $10,000. My total debt load is a lot higher and I have no choice but to file for consumer proposal. I know about bank’s right to offset but I am wondering if my proposal if filed, will my bank still be able to legally excersize that right.

Posted from: Ontario


One Response to “Frank”

, Barton Goth - Goth & Company Inc. -Trustee in Bankruptcy said:

The right of set off expires as of the date the consumer proposal is filed. This is the date the stay of proceedings is put in place.

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