BANKRUPTCY OR PROPOSAL

July 25th, 2006 by Questions

Firstly, can you do a proposal if your only income is EI (MB)?? And secondly, how can you avoid bankruptcy if your bills are 2K while your income is 1K ??

Questions

One Response to “BANKRUPTCY OR PROPOSAL”



, A licensed trustee said:

You are allowed to file a proposal regardless of your source of income, but there aren’t many trustee’s that would recommend a proposal for someone on EI, particularly if they are only receiving $1,000 a month.

It is too your credit that you want to repay a portion of your debt, but it may not be appropriate for you to file a multi-year repayment plan without a steady, long term source of income.

I suggest you use the links at the side of the page to find a trustee in your area so that you can discuss your options in greater detail with someone in person.

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