Withdrawing A Proposal and filing for Bankruptcy

November 22nd, 2009 by Questions

I just signed a consumer proposal about a week ago (i.e just got a file numer and creditors are being notified) but now it appears my wife`s work is being cut back drastically(she has worked one day in the past two weeks) .I now feel that I may not be able to fulfill the terms of the proposal especially if I am the sole full time income earner.Can I withdraw my proposal and file for bankruptcy instead?

Posted from: British Columbia


One Response to “Withdrawing A Proposal and filing for Bankruptcy”

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

There is no need to withdraw the consumer proposal, although it is possible, but by simply filing a bankruptcy you will find that the proposal is automatically annulled.

The best thing to do is to simply contact your trustee to discuss the best way to proceed.

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