Joint proposals in BC?

February 11th, 2009 by Questions

Hi. My wife and have over $120,000 of unsecured consumer debt and are exploring Consumer proposals. Are we able to do a Joint Proposal with a combined threshold and not have to do Div 1?

Posted from: British Columbia

Questions

One Response to “Joint proposals in BC?”



, A licensed trustee said:

In order to a file a joint consumer proposal “all or substantially all” of your debts must be similar. The Courts generally view that to mean 90% of your debts are the same, but frankly no one looks too closely anymore.

The debt limit for a joint proposal is $150,000 excluding the mortgage on your principal residence (assuming the proposal is for two people).

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.)