FILL OUT THE FORM BELOW AND RECEIVE A NO-OBLIGATION CONSULTATION

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How can we help you?

If you have unsecured debt of under $10,000 and live in the Province of Ontario filing bankruptcy may not be the best option for you. We suggest you contact the Office of the Superintendent of Bankruptcy at 416-973-6441 to discuss your options, or you can visit their website here.

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Consumer proposal

Is it possible to keep your home with a consumer proposal? For example I owe $50,000 unsecured debt & my portion of the equity in my home may be as much as $30,000.

Posted from: Ontario

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One Response to “Consumer proposal”

Barton Goth – Goth & Company Inc. -Trustee in Bankruptcy said...

You have identified one of the key advantages behind the filing of a consumer proposal, there is no vesting of assets like in a bankruptcy, so it often allows the protection of assets that might otherwise be lost.

To see if a proposal will work in your situation you should contact a local trustee and they will be able to quickly look at things and help to determine if that is the best approach.