credit card usage one month prior to consumer proposal

March 18th, 2009 by Questions

My wife and I are around 70K in debt, inclucing a secured car loan for $33000. Unfortunately the vehicle is only worth around $15000. We thought about a CP, but decided… What is the usual timeline for a bank sueing, and a lien being placed? Should we file a CP before that?

Posted from: British Columbia


One Response to “credit card usage one month prior to consumer proposal”

, A licensed trustee said:

I deleted much of this question before posting it. It was too long and more importantly, it might have given other people reading the post “ideas”.

To the original writer: some of what you want to do makes sense, some may get you into trouble. You should speak to a trustee in your area for advice on how to proceed. Just so you know, once you file the proposal you have the right to return the leased car (the company can’t refuse it) so there’s a light at the end of the tunnel. It’s what you’re planning on doing with your credit card that has me concerned…

To people posting to this blog: we’re not a “how to sight”, please keep your questions general and simple. If you are loking for very specific answers you need to speak directly to a trustee. We don’t collect enough information on this site to give people detailed responses. Thanks.

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