April 15th, 2013 by Questions

I have 3 credit cards and I owe 31,000 in total. 1st credit card -16500 2nd – 10000 and 3rd -45000. I dont work at the moment. I have Investment acct with TD and one of my credit card is with TD. I am paying monthly payment but only paying minimum payment required. My question is will I be able to delare consumer proposal in my other two credit cards. Thanks

Posted from: Ontario


One Response to “Question”

, Barton Goth - Goth & Company Inc. -Trustee in Bankruptcy said:

A consumer proposal is a good way to bring your debt down to manageable levels. But there are two things you should know. First, you can’t file a consumer proposal on part of your debts, so you would have to list all 3 credit cards. Second, usually to file a consumer proposal you need to be workng. This isn’t always the case, but it is often difficult to do when you are in between jobs. My recommendation, contact a local trustee, have them review your sitaution and they will easily be able to help you determine if a consumer propsosal is right for you.

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