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Can we still be accepted even though we are not behind on any debt bills?

we are looking into a consumer proposal we are not behind on any bills yet just have a lot of debt that we can not longer afford due to my husbands job cutbacks. Can we still be accepted even though we are not behind on any debt bills??

Posted from: Ontario

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One Response to “Can we still be accepted even though we are not behind on any debt bills?”

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

There is no requirement that you must be behind on your bills to qualify to file a consumer proposal. The only requirement is that you currently reside in Canada of have in the last 12 months, owe greater than $1000 and are unable to pay your bills as they generally become due or ceased paying those bills.

So if you are in a position where you aren’t currently behind, but are not making much headway (i.e. paying only the minimum) I would recommend you contact a local trustee.