3 Responses to “Does interest on debts stop when a consumer proposal is filed?”
A licensed trustee said...
Yes, interest on all unsecured debts stops as soon as a consumer proposal is filed.
Anonymous said...
I have a student loan which was included in my proposal (which I have finished paying)…I have just checked my student loan file, and they continued to charge me interest throughout…were they correct in doing so, or should I look into this?
A licensed trustee said...
You should look into this. I suggest you contact your proposal administrator. If student loans voted in favour of the proposal, or if the student loan was more than 10 years old, than the loan is discharged. Otherwise, it is possible that the student loan was not included in your proposal. Only your proposal administrator (your trustee) can tell you for sure.
Yes, interest on all unsecured debts stops as soon as a consumer proposal is filed.
I have a student loan which was included in my proposal (which I have finished paying)…I have just checked my student loan file, and they continued to charge me interest throughout…were they correct in doing so, or should I look into this?
You should look into this. I suggest you contact your proposal administrator. If student loans voted in favour of the proposal, or if the student loan was more than 10 years old, than the loan is discharged. Otherwise, it is possible that the student loan was not included in your proposal. Only your proposal administrator (your trustee) can tell you for sure.