FILL OUT THE FORM BELOW AND RECEIVE A NO-OBLIGATION CONSULTATION

"*" indicates required fields

Name*

Phone Number*

Email*

This field is hidden when viewing the form

What's the best time to contact you?*

Location*

What city do you live in?*

This field is hidden when viewing the form

Source

How can we help you?

Agreement*

I understand that Bankruptcy-Canada.ca does not provide debt relief services directly and agree to securely share this information with a local Licensed Insolvency Trustee (LIT) for a free, confidential consultation.

Phone

This field is for validation purposes and should be left unchanged.

Select Trustee By Province

“Lump Sum” Consumer Proposal

I owe $ 105000 to the credit card , so iwant to do Consumer Proposal but i have only $ 12000 to pay iwill pay the $ 12000 sum lum once they approved the Consumer Proposal . please let know what to do? .

thanks

Posted from: Ontario

Share this post:

X (Twitter) Facebook LinkedIn Email

One Response to ““Lump Sum” Consumer Proposal”

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

Your creditors may be willing to accept a lump sum consumer proposal of $12,000.00 but that is going to depend on a number of other aspects of your financial situation (i.e. what you make and spend in a normal month, employment history, what you would be worth to your creditors in a bankruptcy, ability to make payments over time etc.). My guess is that the $12,000.00 is low, but really to know for sure you need to sit down with a local trustee and let them look at your full financial picture. Only then will they be in a position to comment.