FILL OUT THE FORM BELOW AND RECEIVE A NO-OBLIGATION CONSULTATION

"*" indicates required fields

Name*

Phone Number*

Email*

Hidden

What's the best time to contact you?*

Location*

What city do you live in?*

Hidden

Source

How can we help you?

Name

This field is for validation purposes and should be left unchanged.

Select Trustee By Province

proposal over $75,000

I have debt totalling 116,00.00. I am having trouble meeting monthly payments. Can I apply for a consumer proposal or do I have to claim bankruptcy.

Posted from: Ontario

Share this post:

X (Twitter) Facebook LinkedIn Email

One Response to “proposal over $75,000”

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

Right now the eligibility limit on consumer proposals is $75,000, just as you have identified. This doesn’t mean that you can’t file a proposal, it just cannot be a consumer proposal. There is a different class of proposals that is used if your debts exceed the $75,000 level. This type of proposal is referred to as a Division I proposal and I would suggest you contact a local trustee for more details on this type of proposal.