FILL OUT THE FORM BELOW AND RECEIVE A NO-OBLIGATION CONSULTATION

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If you have unsecured debt of under $10,000 and live in the Province of Ontario filing bankruptcy may not be the best option for you. We suggest you contact the Office of the Superintendent of Bankruptcy at 416-973-6441 to discuss your options, or you can visit their website here.

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entering into a consumer proposal

I am considering entering a consumer proposal. My student loan debt is about 38,000 and are not able to be discharged until Aug 2011. I have under 75,000 debt at present (including student loans) and was thinking I would enter a three year consumer proposal (I`ve been told about 700/month payment) and then consider filing for bankrupcy upon completion of the proposal. Any thoughts about this plan? Thanks!

Posted from: British Columbia

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One Response to “entering into a consumer proposal”

Barton Goth – Goth & Company Inc. -Trustee in Bankruptcy said...

You may want to consider the filing of a bankruptcy first. The reason for this is the bankruptcy has a more severe impact on your credit than a consumer proposal, so if you file the proposal after a bankruptcy it may effectively improve your credit a little.