What happens to my consumer proposal if I move?

_{consumer proposal, Licensed Insolvency Trustee, Manitoba}

Moving doesn’t change your insolvency status, but don’t forget to update your Licensed Insolvency Trustee with your new address. Check out local resources while you’re at it, and keep an eye on any assets in your new province during your insolvency case.

_{Keep your Licensed Insolvency Trustee updated on your move!}

Question

What happens if I move while insolvent? I’m wondering if moving to a new place affects my insolvency status or obligations.

From: Anonymous Question, Manitoba (MB)

Answer

Moving to a new location won’t change your insolvency status or obligations. But hey, don’t forget to shoot your Licensed Insolvency Trustee (LIT) your new address. You’ll want all those important letters to land in your shiny new mailbox, right? Plus, depending on where you move, you might find some handy local resources to help manage your debt or consumer proposal. And just a heads-up, any goodies you’ve got in the new province might need a once-over if your insolvency case is still rolling.

From: Insider Scott

OSB Based Answer

If you move while insolvent, it does not inherently affect your insolvency status or obligations. However, you must keep your Licensed Insolvency Trustee informed of your new address, as they need to maintain accurate records for your file. Under the Bankruptcy and Insolvency Act (RSC 1985, c 4 (2nd Supp)), Section 157, it is important to provide this information to ensure continued communication and compliance with the terms of your insolvency process. Additionally, if you are in a consumer proposal or undergoing bankruptcy, your obligations to the creditors and the terms agreed upon remain unchanged regardless of where you reside in Canada.

From: This answer is provided by scanning the OSB Bankruptcy & Insolvency Act and related directives

References

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