May 13th, 2011 by Questions
Is it possible to keep your home with a consumer proposal? For example I owe $50,000 unsecured debt & my portion of the equity in my home may be as much as $30,000.
Posted from: Ontario
One Response to “Consumer proposal”
Please post a follow up comment below:
(Note: comments are reviewed by moderators and then posted after approval. In addition, due to high volume some of the comments might not be posted.)
You must be logged in to post a comment.
May 13, 2011 at 1:09 am, Barton Goth - Goth & Company Inc. -Trustee in Bankruptcy said:
You have identified one of the key advantages behind the filing of a consumer proposal, there is no vesting of assets like in a bankruptcy, so it often allows the protection of assets that might otherwise be lost.
To see if a proposal will work in your situation you should contact a local trustee and they will be able to quickly look at things and help to determine if that is the best approach.