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not behind in payments do i still qualify?

My husband and I owe about $50000 in credit card debt. We have no real assets except for a couple of older cars but both make a decent income. We are currently paying the minimum due, on time each month and have been for sometime. Unfortunately we don`t have extra $$$ to set aside for unexpected expenses so when these come up we use credit. As a result even though we make steady payments we are not seeing a decrease in our debt. Do we qualify for a consumer proposal even though we aren`t maxed out and are not behind? THanks.

Posted from: Ontario

One Response to “not behind in payments do i still qualify?”

A licensed trustee said...

Yes you do – this is one of those strange myths that is floating around – you do not have to be behind in your payments, or have maxed out your credit in order to file a consumer proposal or bankruptcy.

Use the links on this site to find a trustee in your area and give thema call – they will walk you through all of your options and help you decide whether or not a proposal is the right choice for you.