avoid bankruptcy?
i declared bankruptcy in 2004, i am in the same situation, can i avoid a second bankruptcy thru a consumer proposal
Posted from: New Brunswick
i declared bankruptcy in 2004, i am in the same situation, can i avoid a second bankruptcy thru a consumer proposal
Posted from: New Brunswick
Yes, you may be able to do that. One of the reasons that consumer proposals were created was to allow “repeat” bankrupts another option. The amoutn you will be required to offer your creditors is the greater of these two things:
1) the amount you would have to pay into a bankruptcy;
and
2) an amount sufficient to entice your creditors to accept your offer. Currently that is about 1/3 of what you owe.
So, use the links of this site and contact a trustee in yor area to see if a consumer proposal will work for you.