2025-11-03
Aiming to pay off your Consumer Proposal early? Here’s what you need to know
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Thinking about paying off your Consumer Proposal early? It can be smart move, but only if it fits your existing financial picture.
What happens if you win an ICBC settlement after a proposal is started?
2010-07-08
The answer to your question likely depends on timing.
Before you can “win” a settlement, there would be an action. If the action arose prior to filing your proposal and/or prior to court approval of the proposal, you need to disclose that to the proposal trustee if didn’t already. Ultimately, your proposal trustee would be in a position to advise you further based on the specific circumstances.
If the action arose after court approval of the proposal, then there is generally no action required on your part, unless the terms of the proposal require you to disclose post-proposal activities/monies received, etc.
Either way, I would recommend that you discuss this with your proposal trustee so that you can obtain a correct answer based on your specific situation.
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