In a consumer proposal this is a bigger issue than it is with a bankruptcy because in a consumer proposal if you miss 3 payments (whether in a row or over a longer period of time) the proposal is automatically null and void, the rights of your creditors are automatically reinstated and you are again responsible for your debts in full. In a bankruptcy, failure to make the payments to the trustee will result in you being in-eligible for a discharge from bankruptcy (now you can catch these up, but that obviously makes life harder for everyone).
Either way, the best thing to do is to simply contact your trustee and keep them informed of what is taking place.
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1 Comments:
At 3:38 PM,
Barton Goth, GCO Inc. Bankruptcy Trustees said…
Either way, the best thing to do is to simply contact your trustee and keep them informed of what is taking place.
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