Consumer Proposal or Debt Management Plan
I was speaking with an upset lady today during a break at work. She stated that she gambled her money away. She can now only pay the minimum monthly payment on her bills but has nothing left afterward. She owns the home and only has one year of mortgage left. I suggested that before she starts receiving the phone calls from creditors, contact a trustee to see if she can obtain a consumer proposal vs. bankruptcy as her asset in her home would be considered during bankruptcy and she would probably have to sell. Was this good advice.
Posted from: Ontario