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Learn to live on what you make

Its suggested that you not use your credit cards 3 months before file of a consumer proposal but if your living off credit you have no choice its more about your pride to pay this but you are never going to be able to pay the debt would this effect the out come of a consumer proposal?

Posted from: Ontario

One Response to “Learn to live on what you make”

A licensed trustee said...

You are missing a very basic point – if you are using your credit cards to live then you should not be considering a consumer proposal (or bankrupcy for that matter). Once you file you lose all access to credit – if you don’t have enough income to pay your lving expenses then how will you live?

If you can’t live without your credit for 3 months then you are not ready to file. You MUST have enough income to pay your day to day living expenses, plus have enough extra to offer some form of repayment to your creditors or there is no point in filing (yet).

Sorry, but you have to learn to live on whatever income you have before you can deal with your debts.