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.

Questions

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.

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