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Newer loc & proposal

I have a National bank loc but for only 1 year now. I make all minimum monthly intrest payments, do you think they(or any bank) will be difficult to deal with for a proposal?

Posted from: Ontario

One Response to “Newer loc & proposal”

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

It is difficult to say for sure without knowing more details (i.e. percentage of recovery available in a bankruptcy, the amount being proposal as part of the proposal, your cash flow etc.) but overall National Bank has had a decent track record and are typically considered a relatively cooperative creditors when it comes to the filing and accepting of proposals.