proposal – bankruptcy

October 26th, 2011 by Questions

can i go bankrupt after i realized a proposal is still hard for me to live?

Posted from: Ontario


One Response to “proposal – bankruptcy”

, A licensed trustee said:

Yes, you may file bankurptcy even after you have filed a proposal. Most people deliberately allow their proposal to fall three months into arrears which will cause it to be automatically annulled (cancelled). When those notices go out they file bankruptcy. It gives you 4 months without any payments.

Of course you have the right to file bankruptcy without waiting for your proposal to be annulled, if you don’t want to wait. Call your trustee…

Please post a follow up comment below:

(Note: comments are reviewed by moderators and then posted after approval. In addition, due to high volume some of the comments might not be posted.)