Selling your House while in a Consumer Proposal
November 19th, 2005 by Questions
What happens if you file a proposal with your creditors, that repays eg 50% of your unsecured debt, and then your financial situation changes down the road? For example, you sell your house later, which has little to no equity at the time of filing, but 1-2 years later you sell and move to an apartment and manage to get eg $10,000 – $15,000 profit. Or, if you inherit money from a will, or make more money through employment. Is your income and any other money coming in or going out monitored during this repayment period, or is everything based on your financial situation at the time of filing a consumer proposal?