Tracking finances before proposal
January 10th, 2008 by Questions
I think I`ll need to make a consumer proposal or declare bankruptcy soon.
I stopped spending on my cards four months ago when I realized I was in financial trouble. Will this satisfy the trustee, or would it be considered fradulent because I hadn`t been keeping better track of my finances and should have recognized the trouble earlier?
(I had expected to receive money from my parents to pay off a lot of my debt, but it didn`t happen. I have been holding off submitting a proposal because I had hoped things might change.)