Consumer proposal for wife only
My husband and I have accumulated approx $70,000.00 in debt! Due to circumstances he is on WSIB and I collect CPP disability. I want to know if I can do a consumer proposal for the debt that is in my name only? That would be approx $30,000.00, but I am also included on one joint line of credit and our mortage. Our household income would have to be used in the calculation for repayment as it is his income that is the higher of the two. I would prefer not to ruin both our credit ratings.
Posted from: Ontario
Yes, it is alwasy possibile to file a joint consumer proposal or to file separately. Now, there are some stipulations about when and how this can be done, but most of the rules focus on when a joint filing is applicable so as long as the payment fits into your monthly budget you shouldn’t have any difficulties.