consumer proposal

May 25th, 2009 by Questions

With me going on maternity leave and my husband working for his own company, will this affect us trying to apply for a consumer proposal. We owe around $70,000 in unsecured debt, which includes taxes, line of credit, credit card and GST. Plus we have a car loan and a line of credit that`s secure. With a little one at home and another on the way we would like to avoid bankruptcy.

Posted from: British Columbia

Questions

One Response to “consumer proposal”


May 26, 2009 at 8:45 am, Barton Goth - Goth & Company Inc. -Trustee in Bankruptcy said:

I have seen many people in just your situation able to file a consumer proposal. The key thing is that in your monthly budget there must be room to make a reasonable offer to your creditors, this is not only based on when you are working, but you must be able to afford it while on maternity leave as well.

The best thing for you to do is to contact a local trustee, they will be able to sit down with you, review your budget and help you determine if the filing of a consumer proposal will work given your situation.

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