Proposal done for 1 year
September 18th, 2007 by Questions
I want to do a proposal as I owe a total of about $40,000 to different creditors. I don`t like the idea of Bankruptcy. Can I negotiate to repay 30% or 40% if I can guarantee to all my creditors that I can pay within a 1 year period? Also are there any recommended trustee offices in Etobicoke in the evenings or weekend? Everyone seems to be Scarborough, Mississauga or downtown Toronto. Thanks for your help and this great site.
One Response to “Proposal done for 1 year”
Please post a follow up comment below:
(Note: comments are reviewed by moderators and then posted after approval. In addition, due to high volume some of the comments might not be posted.)
You must be logged in to post a comment.
September 20, 2007 at 10:08 am, Barton Goth GCO Bankruptcy Trustees said:
This is really dependent on what you are worth in a bankruptcy and to determine that I would need a little more information. The best thing to do would be a local trustee.
As for length of time, I have found that most creditors want to see around a 36 month payment period, but anything is negotiable.