Help with consumer proposal
November 17th, 2009 by Questions
What cash flow would be sufficient to file for consumer proposal?I am on EI and have a small part time job,and my husband just started two year carreer retraining program,so we both bring home arround $3300.Altough we hardly manage to cover our basics now,without minimum payments on unsecured credit card,we feel we would be able to afford payments on CP.We have about $65000 debt on unsecured credit cards.We have two kids,no house,and live in rented appartment…We would preffer not to go bankrupt,if possible.Please,help!!!
Posted from: Ontario
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November 18, 2009 at 10:31 am, Barton Goth - Goth & Company Inc. -Trustee in Bankruptcy said:
The cash flow necessary to file a consumer proposal is going to vary with your level of debt and the composition of debts. So the only way to really determine this is to take the time to meet with a local trustee, they will be able to review your creditors and your budget to help you determine if you have the necessary room.