67 K

February 11th, 2012 by Questions

I owe 67 K. in total. If 26k of that is owed to TD and 19K to RBC what are my chances of a consumer proposal being accepted, and would it still only be 30% ?

Posted from: Ontario


One Response to “67 K”

, A licensed trustee said:

Plan on about 1/3 of what you owe (assuming that is more than you would have to pay if you were to file for bankruptcy -if a bankruptcy is more than you’ll need to pay the higher amount).

TD is not particularly problematic to deal with, RBC can be, but only when they have more than 50% of the debt. In your case, RBC has less than 1/3 so they aren’t likely to cause you any problems.

Please post a follow up comment below:

(Note: comments are reviewed by moderators and then posted after approval. In addition, due to high volume some of the comments might not be posted.)