Lost my Job

April 1st, 2011 by Questions

I have lost my Job- we are considering proposal me and my husband who still works. My question re the amount we propose to creditors: will it depend on our situation now as we can not offer as much as if I was still working- or creditors will ask for more as there will be possiblity that I can find job in the future but I don’t know when.. Thank for your help.

Posted from: Ontario


One Response to “Lost my Job”

, A licensed trustee said:

If you’ve read some of the other postings about consumer proposals you should be able to estimate how much you will have to offer your creditors if you decide to file. The amount may be lower now because of your employment situation – that’s fairly normal and one of the reasons people file proposals.

The risk to you and your family is how long it take syou to find work and how much you can expect to earn in the new job. The proposal will be based on your current situation, but you have to keep in mind what can go wrong (and right) as far as finding new work is concerned.

Whatever trustee you see should be able to explain all of this in greater detail for you.

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