Why can’t I do a proposal?
January 28th, 2013 by Questions
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
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.)