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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Repayment of consumer proposal

Hello….my husband and I have $76,000 of unsecured debt, I am the only one in the household with a job or income, are the payments for the monthly consumer payments based on income? We are just trying desperately to hold on to our home…..

Posted from: Ontario

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One Response to “Repayment of consumer proposal”

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

What you need to do is to schedule a meeting with a local trustee so they can assess your situation and help you to determine what type of an offer they believe your creditors will accept.

The proposal is not based directly on your income, it is based on a combination of what type of recovery would be available in a bankruptcy, your monthly cash flow and what the creditors would consider reasonable.