February 25th, 2009 by Questions
What is the minimum amount that might be accepted by creditors for a consumer proposal? I owe nearly $30,000 in credit card debt and my income is about $1,000 a month (sometimes I make a little more but nothing steady).
I`d prefer a consumer proposal over bankruptcy but is that totally unrealistic? I could probably work out a payment of maybe $100 a month, maximum. Would that be a possibility?
Also, if was able to get a consumer proposal for $100 a month, what if my income increases in that 5-year period? Would I be allowed to make a higher payment one month (or more) if I was able, in order to pay it off more quickly?
And how much does the trustee charge for consumer proposals?
Posted from: British Columbia