Does Consumer Proposal Affect Real Estate License?

Question: May I renew my real estate license if I file bankruptcy or a consumer proposal in Ontario?

Declaring bankruptcy does not automatically remove your license

Yes, in most cases you can renew your real estate license even after declaring bankruptcy or filing a proposal with your creditors. However, you should contact the licensing authority, which in Ontario is The Real Estate Council of Ontario. They will want to review your bankruptcy, the reason behind your bankruptcy and understand what creditors are involved. In most instances your license will be renewed although they may place conditions on your renewal.