Should I Claim Bankruptcy

April 3rd, 2008 by Questions

I co-signed for my daughter to have a credit card she has ran it up to over $30,000 but I am still responsible for that bill and she is not in good standing to pay the bill.I am a pensioner and all my finances are in good standing except for this visa. I have gone to see a credit councilor and even without paying interest it would cost me $550 a month for five years this is unaffordable to me should i just let it go to a collection agency or should I contact a Licensed Insolvency Trustee.


One Response to “Should I Claim Bankruptcy”

, A licensed trustee said:

I definetly think you should speak to a trustee, not only to discuss bankruptcy, but also a consumer proposal and more importantly, as a pensioner you may be “crediotr proof”. That means that a crediotr cannot garnishee your pension income – you’ll need to speak to a trustee to get a full understanding of what this means.

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.)