Free Consultation

Why can’t I do a proposal?

I have met with a Trustee and asked if I can do a consumer proposal instead of a bankruptcy. The Trustee said that I don’t have enough income to support a proposal, but I disagree. I owe $30,000 and had the understanding that if I could come up with 1/3 of the money I owe that I could ask to do a proposal instead of filing for bankruptcy. I feel I can afford $150/month for 60 months, which would be almost a third of what I owe. Can the Trustee refuse to ask the creditors to accept my proposal and force me to file for bankruptcy instead?

Posted from: British Columbia

One Response to “Why can’t I do a proposal?”

A licensed trustee said...

If you don’t want to listen the the advice from the trustee you already spoke to, then I suppose start calling until you find a trustee that will accept your file. Trustees are not required to accept you as a client – they may refuse to accept any file, just like you are free to call someone else.