Consumer Proposal – Payment Change
May 30th, 2011 by Questions
I am currently on Consumer Proposal. I have been paying $425 per month for 8 months and will pay off in 5 years.
Yesterday, I went my Trustee Office for my 2nd Mandatory Counseling Session. There, I was told by the counselor that I will have to pay more than what I regularly pay every month because one or two of my Creditors had response (a few months after the court approved my proposal) and said that I owe more that what I told the Trustee.
The counselor told me go to the bank and stop the payment (monthly payment) and go for Bankruptcy.
I cannot afford to pay more than the regular monthly payment now. Should I go for bankruptcy?
Posted from: Ontario