Debt settlement, credit counselling ,or consumer proposal?
December 8th, 2011 by Questions
I owe about 55,000$ on my line of credit and roughly 25,000$ in credit cards and loans- excluding student loans and mortgage. Just to be up to date with these payments I would need a lump sum of about 7,500$ which I do not have as I already went through all my savings to try to pay off these debts. What would be my best option at this point? Refinance my house, sell the house- which I’m trying to avoid-, negotiate a debt settlement, credit counselling or just consider consumer proposal? I’m really trying to avoid bankruptcy…
Posted from: Ontario
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.)