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Proposal

My credit card debt is about $25 000,i can’t make montly full payments . I am making about $2000 per month and my expences are about $1500 which means i can afford to pay $400-500 towards my debt montly. Right now i am considering consumer proposal or bankrupcy….is it possible for me to file for consumer proposal? I own a car which is paid off..if i file the proposal can i still keep the car?
Thank you

Posted from: Ontario

One Response to “Proposal”

A licensed trustee said...

Based on the information you have provided, you might consider a consumer proposal to repay $8,000 or $9,000 of what you owe. Call it $200 per month for 40-45 months.

Use the links to contact a trustee in your area so they can go over your situation in detail. They will alos discuss bankruptcy as an alternative (which it doesn’t sound like you need) and credit counselling (whiCh you can’t quite afford).