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credit cards amounts

In consumer propasal what is the average the credit card companies would take. In
full bankruptcy they would get 30% from me. I could redo the house mortage now and get they 20%-25%. now and the remainder over two years. That said i don’t
want to go thru the work only for them not
O.K and then push me into bankruptcy.

Posted from: Manitoba

One Response to “credit cards amounts”

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

The problem is the repayment to creditors is really a moving target that varies with a) what your creditors would receive in a bankruptcy, b) what your monthly cash flow looks like, and c) what the break down of your creditors looks like.

As a result it is difficult to give you a number that means anything. To get an idea of what would be required the best thing to do would be to simply sit down with a local trustee and after they review a few of the details about your situation they will be able to give you that numer.