Consumer Proposal Default
April 7th, 2009 by Questions
We recently file a divison 1 consumer proposal and it was accepted by our creditors. Looking at our current financial situation, we are almost certain we will not be able to make all of our scheduled payments. This will put us in default status. Having spoken to a financial planner, he suggested we get a second opinion on our current proposal and consider filing for bankruptcy. In his opinion, banks see consumer proposals the same as bankruptcies anyway.
Should we seek a second opinion at this point?
Posted from: Ontario