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

"*" indicates required fields

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

Name*

Phone Number*

Email*

This field is hidden when viewing the form

What's the best time to contact you?*

Location*

What city do you live in?*

Total Unsecured Debt*

*Unsecured debt includes credit cards, lines of credit, bank overdrafts, payday loans, and unsecured personal loans (excluding student loans). It does not include mortgages and car loans.

This field is hidden when viewing the form

Source

How can we help you?

If you have unsecured debt of under $10,000 and live in the Province of Ontario filing bankruptcy may not be the best option for you. We suggest you contact the Office of the Superintendent of Bankruptcy at 416-973-6441 to discuss your options, or you can visit their website here.

Agreement*

I understand that Bankruptcy-Canada.ca does not provide debt relief services directly and agree to securely share this information with a local Licensed Insolvency Trustee (LIT) for a free, confidential consultation.

Select Trustee By Province

Would I qualify for a Consumer Proposal with a repayment rate of 30%

Hi there, I really would like to know if I would qualify for a Consumer Proposal with a repayment rate of about 30%…over 3 years or? I earn about 38-40k annually. I owe about 36K in unsecured debts including 10 year old student loans. I havn`t paid creditors for about 4 years…The product of a divorce. Whats my best option? Please help…

Posted from: British Columbia

Share this post:

X (Twitter) Facebook Pinterest LinkedIn Email

One Response to “Would I qualify for a Consumer Proposal with a repayment rate of 30%”

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

From the sounds of it you would definitely qualify to file for a consumer proposal, the question becomes whether 30% would be sufficient for the creditors to come on board. To determine this you really need to review things with a local trustee as we need to review things like what creditors we are dealing with, your monthly cash flow etc.

However, I can tall you have have seen a number of people making a similar amount as you are who have been able to offer between 25 – 30% mark. So to me this sounds like a realistic approach.