If you failed a consumer proposal can that be considered as you having gone bankrupt?
I had a previous bankruptcy many years ago.
Later I filed a proposal that failed thanks to my ex-spouse who did not keep up payments. Recently I filed bankruptcy which they say is now my third time filing a bankruptcy.
This doesn’t seem correct as I feel it should only be my second bankruptcy.
If you file a consumer proposal and then do not make the required payments the consumer proposal is annulled.
This does not result in a bankruptcy and is not considered a bankruptcy.
– Earl Sands, Licensed Insolvency Trustee for BankruptcyCanada.com