home equity

February 23rd, 2012 by Questions

We owe 17,000.00 in unsecured credit cards and have 50,000 equity in our home but have been declined for both reconsolidation and refinancing, can we be approved for a consumer proposal?

Posted from: Ontario


One Response to “home equity”

, A licensed trustee said:

Yes you can, but you will have to offer your creditors 100% repayment plus the costs of the proposal. You should expect to have to pay around $22,000 in total to deal with the $17,000 that you owe.

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