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Consumer proposal

I am employed by Scotiabank right now, but hours were cut and have been struggling for a while. As Soon as I found out I have been going on interviews for another job and have been offered a new position but it won’t start till March. I took your advice and contacted HR at Scotiabank re a consumer proposal. Because my one visa would have to be included. Because I deal directly with cash I was told a variety of things but not really given a straight answer which made me afraid for my job. I am posponing doing my proposal until I give notice. I have contacted my different creditors and explained my situation. Some have given me more afordable payment plans at a reduced interest rate but I still can’t keep up with the payments long term. A proposal is my best solution. My question is if I agree to make the lower monthly payment but not all my debters will consider it and therefor I can’t possibly do it, can I still file a proposal.

Posted from: Ontario

One Response to “Consumer proposal”

Barton Goth – Goth & Company Inc. -Trustee in Bankruptcy said...

You can definitely still file a consumer proposal. Trying to negotiate terms with each of the creditors won’t cause you any difficulties or make it so that the consumer proposal isn’t possible. So not to worry.