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If you have unsecured debt of under $10,000 and live in the Province of Ontario filing bankruptcy may not be the best option for you. We suggest you contact the Office of the Superintendent of Bankruptcy at 416-973-6441 to discuss your options, or you can visit their website here.

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proposal – bankruptcy

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

Posted from: Ontario

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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…