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I was wondering if a proposal would be accepted if you are on ei. I am a seasonal worker and get ei for 9 months of the year and work for 3. Also my husband had a house before we got married and I am not on deed or mortgage. There is no equity anyway but does it count as an asset because it is a marital home now that we are married.

Posted from: Nova Scotia

One Response to “lynne”

A licensed trustee said...

You are still eligible to file a consumer proposal if you are on EI – it is really a question of whether or not you can afford to make a large enough payment to induce your creditors to accept your proposal. The general rule is you need to offer your creditors the greater of (1) what they would receive if you filed for bankruptcy, and (2) about 1/3 of what you owe. If you can do that while you are EI there’s no reason for your creditors to say no.

The house has nothing to do with you if you have never been on title or the mortgage. Good luck sorting things out.