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”
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November 23, 2009 at 8:44 am, 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.