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
One Response to “Joint proposals in BC?”
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February 12, 2009 at 8:15 am, 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).