Division 1 Proposal
February 13th, 2007 by Questions
I have read on here that it is difficult for a Self Employed person to have a consumer proposal excepted versus an employed person? I am in financial trouble due to a combination of Job Loss – Business Failure and relationship breakdown. A real mess. I owe alot of money – over $400K unsecured and I am a discharged bankrupt from 1995 and do not want to go bankrupt again. If I offered 15 cents on the dollar over 5 years versus a bankruptcy that showed they might get nothing – what do you think my chances are? I understand that a Div 1 proposal forces you into Bankruptcy if the creditors vote it down? Any suggestions appreciated and Thanks for the helpful site.