Filing Soon

Hi guys , we love your site and becaue of you we learned a lot and now we are going ahead and dealing with our debt.
Because of asset we will offer around 80% of our debt in proposal. But it is only a little over 1% of what they will take if we decide to go the bankruptcy road. We are concerned that they will refuse CP as they can have asset right away + what we will pay in bankruptcy.

Please help us make that final step here.

Thank you

Posted from: Ontario

One Response to “Filing Soon”

A licensed trustee said...

Unless you have a single creditor controlling the process you shouldn’t have any issues. You are offering more than a bankruptcy and more than the 1/3 minimum that creditors have told us they look for – obviously ask the trustee you are dealing with this same question, but you should be good to go…