What Is The Trustees Role In A Proposal?
In a proposal, the Trustee will assist you in implementing your plan with regard to making payments to your creditors, at an amount less than 100% on the dollar. The Trustee is required to administer the proposal provisions of the Bankruptcy & Insolvency Act with respect to your specific plan. Quite often, the Trustee will be a go between, between you and your creditors fielding questions from both you and your creditors with respect to your proposal. You begin by contacting a Trustee who will assist you with your proposal plan. If accepted you will make payments to the Trustee who, in turn, will make the payments to your creditors return to the top…
