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I have approx 200k in credit card dept. I also have approx 200k in equity. Can I sell my house and offer a lump sum of 100k (half of my equity). I have heard that they will increase the consumer proposal limit for a couple from 150k to 250k. Should I wait? or or can I file a proposal now even though im over the 150k limit?

Posted from: Ontario

One Response to “Help”

A licensed trustee said...

You may do as you suggest, but if you were one of your creditors and someone told you that they have enough money in the bank to pay them back in full, but only offer half… would you accept such a deal?