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bancrupcy

I began making monthly payments for a consumer proposal in January 2013.Now it is only April and my circumstances have changed in a big way.I am no longer able to work as I planned on doing for a long while.Now I am only going to be living on OAS ans CPP–will I be able to now file for bancrupcy?

Posted from: Ontario

One Response to “bancrupcy”

A licensed trustee said...

Yes you can – you should contact the trustee that handled your proposal (or a new trustee if you don’t want to speak to your current trustee). If it has been less than 60 days since you filed (unlikely if you filed in January) and you file for bankrptcy the bankruptcy will be back dated to the day you filed the proposal. If more than 60 days have passed since you filed then the banruptcy will start the day you file and the payments you’ve made to your proposal will be lost.