January 19th, 2011 by Questions
I consulted Licensed Insolvency Trustee here in winnipeg . i am in deep financial situation, so i was thinking of offering a consumer proposal to all my creditors rather than filing bankruptcy, but upon assessment, she said my household income is shortfall by the province\’s standard. My household income is 3800 (family of 5), total expenses is 3600. but my husband has a job offer somewhereelse and will augment our income. why she didn\’t consider it and advise us to file bankruptcy instead of consumer proposal?
Posted from: Manitoba
One Response to “Mrs ana”
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January 20, 2011 at 9:45 am, A licensed trustee said:
I can’t say why the trustee you saw isn’t recommending a proposal. I am sure they are trying to counsel you to the least expensive solution to your financial problems (bankruptcfy always costs less than a proposal).
That being said, if you are committed to the process and know that you will be able to make the required proposal payments then stick to your guns – if that trustee won’t allow you to file a proposal with them then go and speak to another trustee. Of course if the second one says it’s a bad idea, you may want to rethink your position…