Consumer proposal for the debt of $80,000?
January 3rd, 2006 by Questions
My and my wife’s debts are almost $80,000 (credit cards and lines of credit). Due to recent decrease of the working hours on my job (became part-time) and my wife is on maternity leave we have to do something about it. Our net income is about $3,500 a month. If we offer $20,000 to $25,000 to our creditors (5 in total) in the consumer proposal, do you think that creditors would accept that amount or refuse it?