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Can I pay off my consumer proposal early?
The above question was emailed to me by someone who filed a consumer proposal with us in March 2006. Since she filed her consumer proposal, she sold a piece of property and wants to use the money to pay her proposal in full. The answer is yes, she can pay it off early. She is bound to the money offered, not to total number of payments. Since she is paying off her proposal faster, it will be dropped from her credit rating that much faster.
posted by Rebecca Martyn, CGA, CIRP, Trustee @ 4:12 PM
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