debt and mortgage

March 18th, 2013 by Questions

I earn 29,000.00 before tax and have debts of about $60000 including credit cards and line of credit.

Would i be eligible for consume proposals? and my partner pays the mortgage, but its in both our names how will this be affected?

Posted from: Ontario

Questions

One Response to “debt and mortgage”


March 18, 2013 at 12:11 pm, Barton Goth - Goth & Company Inc. -Trustee in Bankruptcy said:

Yes, you would qualify to file a consumer proposal. Qualifying is fairly simple (i.e. you have to owe greater than $1,000 and are unable to generally pay your debts as they become due).

In terms of your mortgae, it won’t be affected as the consumer proposal is only able to compromise your unsecured creditors.

Please post a follow up comment below:

(Note: comments are reviewed by moderators and then posted after approval. In addition, due to high volume some of the comments might not be posted.)